On November 19, the Central Bank of the Republic of Uzbekistan, Uzbekistan Banking Association and the Banking and Finance Academy of the Republic of Uzbekistan held an international scientific-practical conference "Topical issues of participation of the banking and financial institutions in the modernization of the real sector of the economy of Uzbekistan."
The conference was attended by deputies of the Legislative Chamber of Oliy Majlis, leading experts of foreign and national financial and credit institutions, ministries and departments, employees of commercial banks, international financial institutions accredited in Uzbekistan, faculty, senior research fellow researchers , graduates of leading universities, scientists research institutions of the Republic, and others.
The conference work was organized in 5 sections, which discussed issues of further enhancing the participation of banks in lending to the real sector, improving the mechanisms of fiscal policy in the modernization of these enterprises, the direction of foreign investment and the implementation of an active investment policy as an important condition and source of the country's modernization, effective mechanisms for use of pension and insurance funds as a source of investment in the modernization of the real sector of the economy, and others.
It should be noted, that on November 1 this year, the amount of lending to the real sector of the economy, compared with the same period in 2013 increased by 30.8%, while in absolute terms reached 31.8 trillion soums.
The volume of investment bank loans increased compared with the corresponding period in 2013 by 1.2 times and exceeded 7.2 trillion soums.
Small business development is also at the focus of banks. Credits allocated to the subjects of this sphere, increased by 1.3 times compared to the same period of 2013 and as of November 1, 2014 amounted to 8 trillion soums.