Tashkent, Uzbekistan (UzDaily.com) -- An online meeting was held between representatives of the National Agency for Prospective Projects, the Ministry of Economy and Finance, the Agency for State Asset Management, the Central Bank of the Republic of Uzbekistan and Uzbekistan Stock Exchange (UZSE) with representatives of the National Bank of Georgia (Central Bank of Georgia) led by Vice President Ekaterina Mikabadze and Senior Consultant of TBC Bank Group PLC Otar Sharikadze.

Georgia’s experience in developing the corporate bond market was presented at the meeting.

Georgian experts noted that the main driver of market development was the provision of the opportunity for local issuers to issue corporate bonds in foreign currency. Today, the Georgian market volume is about US$800 million.

During the meeting, the mechanism for the National Bank of Georgia to accept corporate bonds as collateral for issuing loans to commercial banks was also discussed, which ensures additional liquidity of the bonds. At the same time, it is noted that the National Bank of Georgia accepts only bonds that have positive ratings from the world’s leading rating agencies.

According to Georgian experts, the application of these practices in Uzbekistan can give new impetus to the development of the stock market.

In this regard, Georgian experts noted the interest of foreign investors in the stock market of the Republic of Uzbekistan.