Regulations Established for Oversight of Bank Loans and External Borrowings

Tashkent, Uzbekistan (UzDaily.com) — The Government of the Republic of Uzbekistan, by Resolution No. 670 dated 24 October 2025, has approved the Regulation “On the Procedure for Attracting Bank Loans and External Borrowings by Large Enterprises of Systemic Importance to the Economy of Uzbekistan.”

The Regulation establishes the framework for controlling and monitoring the attraction of bank loans and external borrowings by large enterprises that have systemic significance for the country’s economy, including their subsidiaries and related companies.

The financial condition of large borrowers is classified according to risk levels as “low-risk,” “medium-risk,” and “high-risk.”

For borrowers with a “low-risk” status, new financial loans may be obtained regardless of the amount. For “medium-risk” borrowers, the amount of a new loan must not exceed 5% of the outstanding obligations or the equivalent of 20 million US dollars.

For “high-risk” borrowers, the amount of a new loan must not exceed 1% of the outstanding obligations or the equivalent of 5 million US dollars, and any borrowing must be conducted with notification to the Coordination Commission.

In cases where the financial condition of large borrowers deteriorates, the Coordination Commission provides recommendations on the use of financial instruments to restore solvency, including attracting new loans on more favorable terms (domestic and external borrowings) to repay existing debts, as well as revising debt conditions, including extending terms, adjusting repayment schedules, reducing interest rates, or changing the currency of the loan.

Large borrowers who disagree with the Coordination Commission’s decision to deny access to financial resources have the right to appeal the decision in court in accordance with the established legal procedures.