Where funds raised from the sale of international bonds will go?

03 April 2019 year

Uzbekistan placed 5 - and 10-year sovereign international bonds worth $1 billion on the world financial markets in February 2019.

Uzbekistan placed 5 - and 10-year sovereign international bonds worth $1 billion on the world financial markets in February 2019.

According to a presidential resolution, funds raised from the sale of bonds will be distributed within the following purposes:

- $889.2 million will be placed on deposit accounts of commercial banks through auction;

- $20 million will be issued as a debt to JSCB Agrobank;

- $89.9 million will be issued as a loan to the state enterprise "Navoi mining and metallurgical combine".