The central bank warned that risks of rising prices remained in certain categories of goods, though core inflation was decelerating.

Uzpromstroybank's privatisation is the latest in a series of steps taken by the Central Asian country to attract the foreign investors it once viewed as a threat.

Samarkand also became the 48th member of the EBRD's Green Cities urban sustainability programme.

Uzbekistan and Russia signed an agreement on cooperation in the use of nuclear energy for peaceful purposes in 2017.

The agreement paves the way for initial stage financing of $800 million for the new gas chemical complex in Uzbekistan's Bukhara region.

The financial details of the cooperation between Ferkensco and Gazprombank have not yet been disclosed, though Ferkensco will implement both projects.