TASHKENT, UZBEKISTAN: The Central Bank of Uzbekistan has recently inked a Memorandum of Understanding with the Swiss State Secretariat for Economic Affairs (SECO), as per Trend reports.
This agreement, formalized during a meeting between the Central Bank of Uzbekistan and Switzerland’s Ambassador to Uzbekistan, Konstantin Obolensky, aims to fortify bilateral relations.
It particularly focuses on fostering collaboration in areas such as monetary policy, financial stability, financial inclusion, payment systems, and human resources management within the framework of the “Program for Capacity Building of Central Banks.”
Both parties underscored the significance of mutual cooperation during discussions on bolstering the Central Bank’s analytical and forecasting capacities, as well as ensuring financial stability.
Ambassador Konstantin Obolensky commended Uzbekistan’s banking and financial sector reforms, highlighting the pivotal role played by the Central Bank in this transformation.
SECO disclosed plans for Switzerland’s transitional cooperation with Uzbekistan from 2022 to 2025, earmarking approximately 33.6 million Swiss francs ($37 million) for this endeavor, with about 15 million Swiss francs ($16.5 million) allocated by SECO specifically.
