KfW may allocate €500 million to support Uzbekistan’s budget 

The German state bank KfW may provide Uzbekistan with a loan of €500 million to support the budget, the press service of the Ministry of Economy and Finance reported.

On May 17, at the meeting held between the Minister of Economy and Finance Sherzod Kudbiyev and the board chairman  of Mangold Consulting, Christoph Mangold, it was noted that due to the geopolitical situation between Uzbekistan and European countries, disruptions in supply chains are observed today. In this regard, a joint working group was formed.

The working group analyzed the costs related to logistics, developed proposals for solving the problem, developed transport logistics, formulated measures to mitigate the consequences for the economy, and discussed issues such as the development of cooperation in the field of training of Uzbek citizens in leading German enterprises, taking into account the experience of German professional education.

Christoph Mangold noted that his company KfW is ready to help in the allocation of a loan of €500 million to support the budget of Uzbekistan.