JP Morgan Development Finance Institution reflected Uzbekistan’s local currency Eurobond transaction in its 2020 annual report
Tashkent, Uzbekistan (UzDaily.com) -- On 27 April, the JP Morgan Development Finance Institution (JP Morgan DFI) published its 2020 annual report. This report also specifies the first issuance of local currency denominated Eurobonds of the Republic of Uzbekistan, which was issued on 19 November 2020 with "Development Finance Qualification". According to the assessment, it is marked as an international transaction with a "high level" of influence on development.
Worth to note that, JP Morgan DFI was development finance structuring agent in the transaction.
The 2 trillion soums of funds received from local currency tranche of the Eurobond issuance are planned to finance the projects that will contribute to country’s achievement of Sustainable Development Goals, in particular to combat poverty, promote healthy lifestyles and quality education, provide gender equality, create access to clean drinking water, support decent working conditions and economic growth, and improve the sustainability of infrastructure.
The annual report on the results of the selected development projects will be published on the website of the Ministry of Finance and made accessible to international investors as well as public in order to enhance the efficiency and transparency of the use of borrowed funds. It will reflect the impact of such projects on improving the standard of living of the population.