According to the government privatisation programme, SQB, also known as Uzpromstorybank, is to be handed over to private hands by 2023.

Expenditures reached 19.66 trillion soums, while the interest margin amounted to 10.5 trillion soums,

Agreements include $600 million in privatisation deals, $2.6 billion in public private partnerships and $3.4 billion in foreign credit lines.

The cooperation agreements envisage the allocation of 1.1 billion euros of capital to finance the expansion of the Shurtan Gas Chemical Complex’s production capacity.

The document was signed during the Uzbekistan Economic Forum held in the capital Tashkent last week with the support of the Asian Development Bank and the World Bank.

The government plans to sell 75 percent of shares in Ipoteka Bank.