ResponsAbility becomes new shareholder of Hamkorbank; Uzbekistan to attract investments to create hemodialysis centers; Trust management of JSC Uzbekcoal; Kazakh subsidiary of Sberbank has expressed interest in Uzbekistan banking sector; The Ministry of Finance suggests withdrawing the ban on the publication of some data; First pilot implementation of a block chain in Uzbekistan; The British AirClad offers Uzbekistan the project of production of mobile mini-hotels;
ResponsAbility becomes new shareholder of Hamkorbank
Hamkorbank is being boosted by support from international financial institutions in a move that will take it to the next stage of growth. A Swiss-based shareholding company managed by responsAbility Investments and specializing in development investments has purchased 7.66 percent of the bank’s shares from IFC, representing approximately half of the shares held by IFC before the transaction.
IFC, a member of the World Bank Group, was the first global investor in Hamkorbank in 2001 and its first foreign shareholder in 2010. IFC remains an active shareholder in Hamkorbank and will continue to support the bank’s development.
During its long-standing partnership, IFC has provided Hamkorbank with more than $60 million in debt, equity, trade finance facilities and hedging instruments. IFC has also helped the bank develop risk management practices, build capacity to finance agri-businesses, and introduce global best practices in several areas, including corporate governance, SME banking and branch management.
Uzbekistan to attract investments to create hemodialysis centers
A meeting of the leadership of the Ministry of Finance, the Ministry of Health and representatives of the International Finance Corporation (IFC) was held on 6 November 2018 to discuss implementation of a project to attract private investment to finance the creation of centers of hemodialysis in of Uzbekistan and the provision of hemodialysis services.
The IFC will analyze and help to prepare necessary documents for holding a tender and in process of determining and selecting a private partner for the implementation of the Project. The IFC will also prepare project structure, which will reflect the volume and level of hemodialysis services, which should be included in the services provided by the investor (medications, nutrition, medical advice, laboratory tests, etc.) and other issues.The Ministry of Finance will issue funds for US$150,000 to IFC for its expenses due to the state budget.
The IFC will conclude with the Ministry of Health of a long-term agreement on public-private partnership with a private investor, determined on the basis of tenders.
Trust management of JSC Uzbekcoal
It is offered to transfer 45% share owned by “Uzbekiston temir yullari” to trust management of the new created Russian subsidiary LLC “Progress Gore Tekh”. During trust management a legal form of JSC “Uzbekugol” as joint-stock company is to be preserved.
The period of trust management is three years with a possibility of prolongation in case of achievement of parameters of the business plan.
Kazakh subsidiary of Sberbank has expressed interest in Uzbekistan banking sector
According to Aleksandr Kamalov, the Chairman of the Board of subsidiary bank of JSC Sberbank, “ there is a substantial change in Uzbek economy is the fact that the Uzbekistan sum became convertible”, according to Forbes Kazakhstan.
Further he mentioned that transactions volume is increasing and there is interest in Uzbek market that is why Sberbank is currently working on adjustments of payment system.
Mr. Kamalov mentioned that currently bank growth rate currently is higher than average, and according to experts of the Bank, 10% growth is being expected, but if the rates will appear higher – Sberbank will not fall behind.
The Ministry of Finance suggests withdrawing the ban on the publication of some data
One of points provides disclosure of data on the general reserves of minerals of the country. The document is available to discussion till November 27.
Before most of statistics of Uzbekistan was closed for public. Thus, many foreign investors did not trust official statistics of Uzbekistan. In particular, specialists of the IMF noted that the published statistics strongly contradicted reality.
In recent years the government started to disclose information gradually. So, for example, at the end of 2017 the volume of gold reserves of the country became known to the public, in May the National page of aggregated data of Uzbekistan started to operate, then the Central Bank began to open data on money transfers, and at the beginning of September — shuttle trade data became public.
First pilot implementation of a block chain in Uzbekistan
At the beginning of October Fund of support of development of digital economy “Digital trust” and the Russian company Block chain Industrial Alliance signed the memorandum of cooperation, and the first pilot implementation of a block chain in Uzbekistan took place already on November 12.
In particular, the block chain was implemented to the area of an automated system of registers for state unitary enterprise “State Center for expertize and standardization of pharmaceutical products and medical equipment” to protect from any manipulations with data.
The British AirClad offers Uzbekistan the project of production of mobile mini-hotels
The AirClad company offers Uzbekistan the project of production of mobile mini-hotels, reported in the Takhlilnoma broadcast of Uzbekistan 24 TV channel. Company is ready to provide all necessary documentation on assembly and operation of buildings if the project will be approved.
The project is developed as an architectural concept to satisfy high demand on accommodation of tourists in the remote areas of the country in the absence of a possibility of use of traditional constructions. It is reported that all products and systems developed by the company can be reused and reconfigured for other purposes.