Uzbek banks to spend $11.5bn towards new investment projects

Uzbekistan commercial banks plan to implement major investment projects worth some $11.5bn in 2021. President Shavkat Mirziyoyev was presented information about these projects on January 11, his press-service reported.

14 major investment projects worth $1bn will be implemented in the field of production of construction materials, light industry, agriculture, petrochemical industry, mechanical engineering and others.

Two thousand new jobs are expected to be created following the implementation of a project for the production of plastic bags and soft containers in the Syr Darya region. One of the largest banks, Uzpromstroybank plans to implement a $94mn project for the production of nonwoven fabric.

1,277 investment projects worth over $10.5bn are scheduled by 2023, with the share of foreign investments and loans comprising almost $4.9bn. This will create about 86,000 new jobs.

$4.1bn will be invested in these projects from all sources this year alone.

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