Can a foreign-owned company borrow from an Uzbek bank?

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Rarely, and expensively — the average lending rate is 23.1% and lending is growing at a third of the pace of deposits. 23.1% Average lending rate across the banking system. 14% Central Bank policy rate unchanged since March 2025 — commercial lending sits well above it. 11.7% Loan growth on the year against 33.2% for deposits: the banks are taking money in far faster than they lend it. 31.2% Total private credit as a share of GDP flat for three years. Plan the business on your own capital. Budget the first two or three years of working capital as share capital or a shareholder loan, and treat any local facility as upside rather than as the plan. A newly registered company with foreign shareholders and no local trading history is at the back of the queue for credit in any market, and in a system lending about a third of GDP that queue is longer. This is a statement about the market rather than about the law: nothing prevents an Uzbek bank lending to a foreign-owned company, and some do. The point is that the pricing and the availability make it a poor thing to depend on at the planning stage.

Can a foreign-owned company borrow from an Uzbek bank?

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