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As Uzbekistan accelerates reforms and opens new sectors to investors, IFC remains deeply engaged. In this exclusive interview, Wiebke Schloemer, IFC Regional Director, outlines how the World Bank Group’s private sector arm is supporting the country’s development — from banking and agriculture to energy and water.

— Over the past few years, Uzbekistan has undergone significant economic and social developments. In your opinion, which key developments stand out and deserve special mention? 
 
— Uzbekistan has implemented bold reforms since 2017 to liberalize its economy and improve prospects for private sector development. With average annual GDP growth of 5.3%, the country is one of...

Oksana Chusovitina has won a silver medal at the World Challenge Cup, the National Olympic Committee of Uzbekistan reports.

The international artistic gymnastics competition is taking place in Tashkent, featuring 60 athletes from 14 countries.

Alongside Chusovitina, Ravshan Komiljonov and Khumoyun Islomov also secured silver medals for Uzbekistan.

Abdulaziz Mirvaliyev and Akhrorkhon Temirkhonov claimed gold, while Shakhinabonu Yusupova earned a bronze.

Earlier, Kursiv Uzbekistan reported that Uzbek gymnasts collected ten medals at the World Cup.

Uzbekistan accounted for the largest share of migrants entering Russia in 2024, making up 23.3% of all arrivals. The announcement came from Valentina Kazakova, Head of the Main Directorate for Migration Issues at the Russian Ministry of Internal Affairs, during the St Petersburg International Economic Forum.

Tajikistan followed with 16.7%, then Kyrgyzstan with 10.4%, and Belarus with 9.5%.

According to the Ministry of Internal Affairs, around 6.3 mln foreign nationals entered Russia in 2024, with about half arriving for employment. Kazakova noted that migration figures have returned to pre-pandemic levels.

Earlier, Kursiv Uzbekistan compiled a guide on migration to Russia...

In 2024, Uzbekistan attracted $2.8 bn in foreign direct investment (FDI), surpassing Kazakhstan for the first time in three decades to become Central Asia’s leading recipient of FDI, according to new data from the United Nations Conference on Trade and Development (UNCTAD).

The report shows that FDI inflows to Uzbekistan reached $2.8 bn, while Kazakhstan—long the regional leader since 1992—recorded a negative net flow of –$2.55 bn.

Turkmenistan ranked second with $1.6 bn, followed by Kyrgyzstan with $705 mln. Tajikistan came last, attracting $291 mln. Kazakhstan, once the region’s investment frontrunner, fell to the bottom of the table.

Global...

Uzbekistan plans to establish a nuclear medicine centre in partnership with Russia, Deputy Minister of Energy Azim Akhmedkhadzhaev announced, according to Sputnik.

The facility will be created jointly with the Berezin Medical Institute (MIBS) of Russia.

The centre will offer radionuclide therapy, produce radiopharmaceuticals and train specialised medical personnel.

Uzbekistan and Russia also plan to coordinate the construction of a multifunctional irradiation and radiosterilisation centre.

Earlier, Kursiv Uzbekistan reported that Russia would build advanced nuclear power plants in Uzbekistan.

The International Maize and Wheat Improvement Center (CIMMYT) plans to establish a regional hub for grain and forage crops in Uzbekistan’s Kashkadarya region. The initiative was discussed during a recent meeting on regional development chaired by President Shavkat Mirziyoyev.

A total of $3 mln will be allocated for the development of the hub. In addition, CIMMYT will introduce advanced technologies in Uzbekistan to accelerate the breeding of new crop varieties.

The collaboration with CIMMYT has been facilitated by the Research Institute of Agriculture in southern Uzbekistan. As part of the cooperation, 500 new vegetable varieties—better suited to local growing...

President Shavkat Mirziyoyev has proposed the construction of a new drinking water supply network stretching from the Gissarak Reservoir to the city of Karshi in the Kashkadarya region. The announcement came during a regional development meeting focused on infrastructure improvements.

“No matter how difficult it may be, we must build a drinking water supply system from the Gissarak Reservoir to the city of Karshi,” the president emphasised in his remarks.

Mirziyoyev also instructed officials to complete 183 kilometers of water supply and sewage networks currently under construction.

In addition, modernization of Karshi’s sewage system...

Wondering if Uzbekistan is hot? The short answer is yes, especially in the summer. Located in Central Asia, Uzbekistan has a continental climate with long, dry summers and cold winters. Summer temperatures can soar above +40 °C (104°F), particularly in southern regions such as Bukhara, Termez, and Karshi. Even in the capital, Tashkent, highs often reach +38–40°C (100–104°F) during July and August.

Uzbekistan Weather by Season

Law enforcement officials from Uzbekistan and Belarus met in Tashkent to address a sharp rise in cybercrimes involving citizens of both countries as perpetrators and victims. The Belarusian delegation was led by Anatoly Vasilyev, Deputy Chairman of the Investigative Committee of Belarus, while Uzbekistan was represented by Deputy Prosecutor General Svetlana Artykova.

According to Belarus’ Investigative Committee, cyber fraud cases involving stolen funds transferred to bank accounts in Uzbekistan have surged. In 2023, 37 such incidents were recorded; in 2024, the number jumped to 142. Although data for 2025 is still incomplete, eight new cases have already been identified.

Underground religious schools operating illegally in Uzbekistan have been found to be involved in abuse against children, as reported by the Ministry of Internal Affairs.

Law enforcement agencies carried out raids on several unlicensed religious institutions in the Andijan and Khorezm regions. In some of these schools, children were subjected to physical abuse, officials confirmed.

One such school was discovered in Namangan, where a local resident had turned his home into a clandestine classroom for eight minors. Both the individual and the children’s parents have been held administratively responsible.

In another disturbing case, a chief doctor at a medical...

A surprising claim about Elon Musk seeking political asylum in Russia has been labelled a «fabrication» by the Russian Ministry of Foreign Affairs.

The rumour emerged after Russian MP and former presidential candidate Vladislav Davankov said during the St. Petersburg International Economic Forum (SPIEF) that the political party New People had proposed offering asylum to the American billionaire. Davankov argued that Musk’s entrepreneurial skills and visionary thinking could be valuable for Russia.

However, the Russian Foreign Ministry’s official spokesperson Maria Zakharova swiftly dismissed the speculation, stating that no official request from Elon Musk had been received.

The...

A new joint-stock company will be established in Uzbekistan’s Kashkadarya region to efficiently manage and develop more than 1.3 mln hectares of pastures and forest lands, President Shavkat Mirziyoyev announced during a regional development meeting.

According to the president, the region’s natural resources — including 515,000 hectares of irrigated land and 45,000 hectares of household plots — represent one of the country’s largest untapped reserves. These lands have the potential not only to ensure food security for the region but also to meet the national demand for meat.

In 2024, agricultural production in Kashkadarya reached 43 trillion UZS. However, with...

85.8% of corporate clients in Uzbekistan are satisfied with the services of local banks, according to a new analysis by the Center for Economic Research and Reforms (CERR). The study highlights that businesses are increasingly shifting to cashless and mixed payment methods while also expecting improvements in credit services.

When choosing a bank, business owners prioritise recommendations, quality of service, and the institution’s reputation. Overall satisfaction with banking services remains high; however, entrepreneurs cite a need for improved support in credit issuance and fund transfers.

Credit and Deposits: Still Underused

A significant 68% of surveyed entrepreneurs said they do...

On Friday, June 20, the exchange rate of the U.S. dollar in Uzbekistan dropped to 12,496.94 UZS, according to data from the Central Bank of Uzbekistan. This marks a daily decrease of 62.32 UZS.

At commercial exchange offices, the dollar is being:

Other exchange rates as of June 20:

Market rates show the ruble being:

The euro is:

Kursiv Uzbekistan reports that Universal Bank shares rose last...

Several companies in Tashkent have been caught illegally using the logos of Hyundai and Kia, according to a statement from Uzbekistan’s Ministry of Justice.

The Ministry’s Intellectual Property Center launched an inspection after receiving complaints from the official rights holders. Experts confirmed that the companies were unlawfully displaying the automotive trademarks on their storefronts without authorization.

The offending businesses voluntarily removed the signage from their facades. However, they were also held accountable under intellectual property law for the violations.

The Ministry reminded the public that brand logos are legally protected trademarks and may only be used with explicit permission...

At the St. Petersburg International Economic Forum (SPIEF), Russian state nuclear agency Rosatom and Uzbekistan’s Uzatom signed a set of documents outlining plans for the construction of a large nuclear power plant in Uzbekistan, as reported by TASS.

The agreement marks another step in deepening nuclear cooperation between the two countries. At the same forum, Russia and Kazakhstan also signed documents regarding the first nuclear power plant in the republic, along with a roadmap for project development through 2027.

Rosatom CEO Alexey Likhachev stated that Tashkent and Moscow are working not only on a small modular reactor project...

The United States has resumed issuing student visas under categories F, M and J, starting June 19, 2025. According to the U.S. State Department, all applicants must now provide access to their social media accounts as part of enhanced security measures.

The new policy applies globally, including to applicants from Central Asia. Officials state the goal is to identify security risks through the review of online activity. Refusal to share information may result in visa denial.

This update follows a temporary suspension of student visa processing in May, when the administration of President Donald Trump ordered a review of...

Uzbekistan’s Embassy in Israel has issued an update for citizens currently residing in the country, noting that civil aviation routes remain suspended amid the ongoing security situation.

Airspace Closed, Repatriation Flights Not Available

As of now, Israel’s airspace remains closed to all international commercial flights, with no confirmed reopening date. According to the Embassy, only Israeli carriers are operating limited special flights to repatriate their own citizens from abroad.

Uzbekistan Airways has suspended all flights to Israel until 30 June 2025. Other Uzbek carriers are awaiting official clearance before resuming operations.

The Embassy stressed that it will promptly notify...

The Cabinet of Ministers of Uzbekistan has adopted a resolution aimed at expanding the use of environmentally friendly goods and services in public procurement. According to the official document, the share of such procurement is expected to reach 30% of total public contracts by 2030.

The resolution «On Measures to Improve the System of Supporting Green Public Procurement» was developed with the support of the World Bank. It sets out mechanisms to promote energy-efficient and eco-labelled goods in tenders, along with incentives for businesses implementing sustainable practices.

What the New Measures Include

The resolution outlines several key steps:

In the second round of the 2025 FIFA Club World Cup group stage, Palmeiras defeated Egypt’s Al Ahly with a 2–0 scoreline at MetLife Stadium in New Jersey.

In the first round, both teams played out goalless draws: Al Ahly against Inter Miami, and Palmeiras against Porto.

Match Recap: Palmeiras vs Al Ahly

The first half began cautiously. The Egyptians held more possession early on, but created no real danger.

Midway through the half, Palmeiras began to pick up pace. Estevão and Vitor Roque each had good chances, but the ball stayed out of the net.

The key...

On June 26, 2025, the first international conference «KEY TECH: AI in Banking and Fintech» will be held at U-Enter in Tashkent. The event aims to become a key platform for discussing the role of artificial intelligence in transforming Uzbekistan’s financial sector.

The development of AI technologies is one of Uzbekistan’s strategic priorities. According to a Presidential Decree by Shavkat Mirziyoyev, the country is implementing an AI Development Strategy through 2030, aimed at building a competitive digital economy and reaching $1.5 billion in AI-driven software and digital services. Globally, the economic impact of generative AI could reach $350–600 billion by...

The Center for Economic Research and Reforms (CERR) conducted a nationwide survey of over 1,100 bank customers in Uzbekistan to gauge satisfaction with financial services.

The findings revealed a consistently high level of satisfaction: more than 80% of respondents gave positive ratings across key banking areas.

Reported dissatisfaction remained low, not exceeding 14% in any category.

Areas for Improvement

While overall satisfaction is high, the majority of respondents believe banking services still require improvement.

As of June 19, the exchange rate of the U.S. dollar has dropped to 12,559.26 Uzbek soums, according to data from the Central Bank of Uzbekistan. This marks a daily decrease of 59.37 UZS.

At commercial exchange offices, the dollar is being bought for 12,500–12,615 UZS and sold for 12,640–12,680 UZS.

The Russian ruble was set at 160 UZS, while the euro stood at 14,413 UZS.

In retail exchange rates:

Kursiv Uzbekistan...

The international exhibition Eco Expo Central Asia 2025, dedicated to the development of ecological technologies, has officially opened in Uzbekistan’s capital, drawing participants from across the country and abroad.

According to Kursiv Uzbekistan, regional representatives from across the republic, as well as international and local companies — including Tok Bor and BYD — are taking part in the event. The exhibition aims to showcase green innovations and support dialogue on sustainable development.

Focus on Public Transport and Renewable Energy

Uzbekistan’s regional pavilions are displaying projects aimed at improving ecological conditions and expanding green public transportation. Plans for 2026 include: