Ministry of Economy and Finance of the Republic of Uzbekistan

The Ministry of Economy and Finance of the Republic of Uzbekistan is seeking Individual Consultants ("Consultants") to provide consultancy services for studying international practices related to the establishment and operation of a Recovery Big Borrowers Fund/Agency. This initiative is part of the Uzbekistan Financial Sector Reform Project, funded by the World Bank. Objectives: - Conduct a comprehensive study on global practices for Recovery Big Borrowers Funds/Agencies. - Analyze successful case studies, including legal frameworks, governance, operations, and financial mechanisms. - Assess the pros and cons of establishing a Fund/Agency versus on-balance sheet management by banks. - Evaluate different models for recovering loans from large borrowers. - Provide recommendations and best practices tailored to the local context. Consultant Qualification Requirements: - Advanced degree in business, finance, law, economics, banking, or a related field. - Minimum 10 years of international experience in financial sector reforms, including banking regulations and financial stability. - At least 5 years of experience in credit risk management and distressed asset resolution, with involvement in at least 3 relevant projects. - Knowledge of international best practices in distressed asset management, including Basel Committee and European authorities’ guidelines. - Strong report writing and presentation skills. - Proficiency in English; knowledge of Russian is a plus. Expressions of interest must be delivered in a written form in English or Russian languages to the address below (in person, or by mail, or by e-mail) by September 19, 2024. Project Implementation Unit under the Ministry of Economy and Finance, Uzbekistan, 100017, Tashkent city, 29, Istiklol St. Tel: +998901741711/+998903311662 Email: piu_mof@mail.ru

A meeting was held with the delegation of the Ministry of Energy and Natural Resources of Turkiye On September 4 of this year, a meeting was held between the leadership of the Ministry of Economy and Finance and the delegation led by the Deputy Minister of Energy and Natural Resources of Turkiye, Chairman of the Management Board of MTA International Mining Inc. (MTAIC) Berat Chonkar. Also, the prospects of expanding the activities of the enterprise "MTA Tashkent Mining Company" established in Uzbekistan by the MTAIC company were discussed. As part of the negotiations, the foreign company presented proposals for the implementation of new projects in the field of mining industry. https://lnkd.in/dz4BUAmu

Turkish companies are interested in implementing PPP projects in Uzbekistan Representatives of the Ministry headed by the Deputy Prime Minister - Minister of Economy and Finance of the Republic of Uzbekistan Jamshid Kuchkarov and the delegation headed by the board member of the Turkish company IC ICTAAS Reha Denemech held negotiations on the implementation of projects in Uzbekistan based on the principle of public-private partnership. During the discussions, interest was expressed in the projects planned to be implemented by the company, such as the construction of toll roads and tunnels, and details were considered. At the end of the meeting, specific plans for cooperation on the proposed projects were determined. An agreement was reached to further intensify mutual consultations on the implementation of projects. https://lnkd.in/dE4jQ7CA

Issues of healthcare development were discussed with the participation of Turkish experts On August 26, 2024, Deputy Prime Minister of the Republic of Uzbekistan - Minister of Economy and Finance Jamshid Kuchkarov held a meeting with Turkish health expert Dr. Hasan Chagil. During the conversation, the parties discussed modern processes in the social sphere, in particular, the current importance of developing the healthcare sector, including reforming the primary health care system, radical improvement of work and increasing the efficiency of laboratories in medical institutions. During the dialogue, the parties also exchanged views on improving the activities of the emergency medical care service, the health insurance system and the application of advanced Turkish and international experience in the field of healthcare. https://lnkd.in/e38TJ_43

The Ministry of Economy and Finance made a presentation to the ministries and agencies regarding the work done on the introduction of digital technologies and the results achieved In accordance with the Decree of the President of the Republic of Uzbekistan No. 308 of September 14, 2023, on August 22 of this year, the Ministry of Economy and Finance organized a regular collegial meeting on reforms, existing problems and their solutions based on foresight with the participation of employees of structural units responsible for the development of digital technologies of ministries an offices during 2024. At the meeting, the responsible employees of the Department for Coordinating Digital Technologies of the Ministry of Economy and Finance and the "Information Technology Center" made a presentation to the participants of the meeting about the work done and the results achieved in the implementation of digital technologies in the ministry. At the end of the meeting, questions and answers and discussions were held by the participants. Also, a number of proposals on the introduction of digital technologies were heard. https://lnkd.in/dJJMPpVb

Training Seminar on Preventing Conflicts of Interest in Public Procurement In accordance with the implementation of the Law of the Republic of Uzbekistan "On Conflict of Interest," approved by the Presidential Decree of the Republic of Uzbekistan dated June 5, 2024, No. PQ-210, Clause 27 of the "Roadmap" for activities to be carried out in 2024 outlines the plan to conduct an online training session for employees of state agencies and organizations on the prevention and regulation of conflicts of interest in public procurement and other budgetary financial expenditures. In this regard, starting from August 20 of this year, the Training Center under the Ministry of Economy and Finance, responsible for the training and retraining of employees of financial and accounting units of budgetary organizations, has been organizing seminar-trainings for employees of state agencies and organizations in accordance with the schedule. These trainings focus on the prevention and regulation of conflicts of interest in public procurement and other budgetary financial expenditures. https://lnkd.in/dkSrbdHZ

A press conference was held on the voting stage of the second season of the project "Participatory Budget" in 2024 On August 22 of this year, the voting phase began within the framework of the second season of the "Participatory Budget" project. To provide detailed information to the general public and media representatives about the innovations of the current season and the processes conducted before the voting phase, the Ministry of Economy and Finance held a press conference. During the press conference, specialists provided comprehensive answers to questions from journalists. In particular, it was noted that over 27,000 projects were proposed by citizens this season, of which more than 23,000 were selected by working groups according to established criteria and passed to the voting stage. In addition, it is expected that more than 2 trillion soums will be allocated to finance the winning projects within this process. https://lnkd.in/dRF2Q7Zh

A meeting was held on the development of educational infrastructure and digital learning in Karakalpakstan A meeting took place at the Ministry of Economy and Finance between Deputy Minister Otabek Fazilkarimov and representatives of the "Hancom Group" from the Republic of Korea. The discussion focused on the details of a project being implemented by "Hancom Group" to create "Smart Classes" (SMART CLASS) in schools and higher educational institutions across the Republic of Uzbekistan, as well as the establishment of an educational center for IT and Korean language training. The project also includes the professional development of teaching staff, which will contribute to improving the quality of education in the republic. https://lnkd.in/dhWXnzxG

Project Board meeting discussed interim results of the project on development of digital economy in Uzbekistan On 20 August this year, the Ministry of Economy of the Republic of Uzbekistan hosted a meeting of the Council of the Joint Project of the Ministry of Economy and UNDP “Empowering Youth for Digital Economy and Digital Entrepreneurship”, funded by the Swiss Agency for Development and Cooperation (SDC), where the interim results of the project on the development of digital economy in Uzbekistan for 2023 and the first half of 2024 were considered. The project is actively working to create a favourable digital environment and strengthen institutional capacity for youth entrepreneurship development in Uzbekistan, which contributes to the overall digital transformation of the country's economy. https://lnkd.in/d3CWSmpZ

A meeting was held to improve the activities of the Treasury Service Committee and increase its potential within the framework of the mission of the IMF On August 12-16 of this year, a meeting was held at the Treasury Service Committee under the Ministry of Economy and Finance of the Republic of Uzbekistan with representatives of the mission of the International Monetary Fund (IMF). At the meeting, the parties, in accordance with the program of the IMF mission, discussed the results of a study conducted by experts of the IMF mission on improving the activities of the Treasury Service Committee, institutional regulation and further increasing its potential in the medium term. Also during the meeting, professional skills were obtained in using the CFAT (Cash Forecasting Analysis Tool) tool developed by the IMF for forecasting cash flows, and it was also noted that areas such as digitalization of the processes of forecasting budget expenditures are of current importance. https://lnkd.in/dRF8T-Rm