NBU rehabilitates insolvent enterprises in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) -- National Bank for Foreign Economic Activity of Uzbekistan (NBU) received 23 insolvent enterprises to its balance and invested 14 billion soums to rehabilitate production, modernization and provide turnover capital.

As of 1 September 2009, these enterprises produced products for 18.1 billion soums as of 1 September 2009. They also exported for US$10.17 million.

The bank said its subsidiaries NBU Invest Group and NBU Investments were created to manage insolvent companies. The bank holds 100% stake in the firms. The companies’ tasks are to attract foreign investors, organization of investment funds, consulting, underwriting, assets management services of the enterprises, which were received to the NBU balance.