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Sunday, March 24, 2019

Central Bank of Uzbekistan details cooperation with commercial banks

The Central Bank of Uzbekistan held a press conference for local and foreign media on "The cooperation of banks and regions: the priorities outlined in the further development of infrastructure in villages."

Commercial banks are encouraged to expand lending for the manufacturing of goods, modernization of farms, improvement of living standards and the growth of rural areas as part of the plan.

Small businesses and private enterprises are the most important source of providing goods and services, diversifying and sustaining economic growth, and improving the welfare of the population.

The federal "Year of well-being and prosperity" program plans to implement several projects in rural areas, including fish farming, milk processing and agricultural development with the assistance of commercial banks.

The country is also implementing a comprehensive program of housing construction in rural areas. It will provide rural residents with modern housing while upgrading rural infrastructure and providing new retail services.

The bank said that cooperation between banks and rural areas will continue to grow, improving the local business climate and contributing to sustained economic development.