PREREQUISITES AND PRIORITIES OF PROJECT-BASED LENDING FOR INVESTMENTS IN FIXED CAPITAL OF UZBEKISTAN
##article.subject##:
finance, investment, fixed capital,, reproduction process, financial and credit support##article.abstract##
This article examines the prerequisites and priority directions for financing
investments in fixed capital in Uzbekistan within the framework of the reproduction process. The
methodological foundation of the study is based on systemic and institutional approaches, which
make it possible to identify the interrelationships between financial and credit mechanisms and the
dynamics of fixed capital renewal. The study emphasizes the role of project finance as a long-term
financing instrument that ensures the sustainability of the investment cycle, improves the
efficiency of resource allocation, and contributes to the modernization of the national economy.
The scientific novelty of the research lies in clarifying the function of financing in supporting
the reproduction of fixed capital, particularly in the context of structural reforms in the banking
sector, improvements in the regulatory and legal framework, and the strengthening of state
investment policy. Priority areas of project financing are substantiated, including the
modernization of the agricultural sector, infrastructure development, and the introduction of
innovative technologies, which collectively form the basis for accelerated capital investment and
sustainable economic growth. In addition, the article analyzes institutional barriers and constraints
that hinder the effective implementation of project financing, such as limited diversification of
credit resources, restricted access of enterprises to long-term financing, and the need for further
development of legal and organizational mechanisms. Special attention is paid to the role of
commercial banks, government institutions, and international financial organizations in creating
favorable conditions for project financing and expanding investment opportunities.
The practical significance of the study lies in the applicability of its results for the
development of strategies aimed at strengthening financial and credit support for investment
activity, improving institutional frameworks, and increasing the investment attractiveness of
Uzbekistan’s economy. The findings may serve as a basis for policy recommendations and the
design of mechanisms that ensure the sustainable reproduction of fixed capital.
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