TASHKENT, April 3 (Xinhua) -- Uzbekistan will utilize its first earnings from the 1 billion U.S. dollars of sovereign international bonds to develop the country's banking sector and mining industry, the Uzbek Justice Ministry said Wednesday.
Uzbek President Shavkat Mirziyoyev signed a decree on Tuesday to allocate the funds to important projects on a repayment basis and with interest rates, the ministry said.
According to the decree, 889.2 million dollars will be put in deposit accounts of commercial banks through auctions, and the Agrobank will get a loan of 20 million dollars.
Navoi Mining and Metallurgical Combinat, Uzbekistan's largest producer of precious metals, will receive a loan of 89.9 million dollars.
Uzbekistan placed its first-ever overseas government bonds on the London Stock Exchange in Britain in February.