Finance
Uzbekistan’s National Statistical System to Modernize with World Bank Support

The World Bank’s Board of Executive Directors approved today a $50 million concessional credit for Uzbekistan that will finance a five-year project supporting the Government’s efforts to modernize the national statistical system and improve the capacity of the State Committee on Statistics (SCS). These improvements will help produce and disseminate data in line with international standards.
The International Development Association (IDA), a part of the World Bank Group, will provide the concessional financing to the Government of Uzbekistan at a very low-interest rate, with a repayment period of 30 years, including a five-year grace period.
Strengthening the national statistical system is at the core of the Government’s reform agenda. Although the SCS’ statistical data sharing capacity has increased significantly since 2017, the ongoing National Statistical Development Strategy recognizes that many existing systems are still outdated, labor-intensive, and do not comply with international standards.
The project will invest in rapid improvements in the agency’s human resources capacity and technological resources to process, analyze, and report key statistical measures. Its key components focus on improving the organizational structure and operational capacity of SCS, as well as improving statistical data production and data dissemination.
The project will assist Uzbekistan in carrying out its first population census since independence, help modernize national accounts, and increase coverage of essential development priorities, including gender equality, poverty reduction, and environmental sustainability.
The project also envisions transitioning the SCS’s operations from paper documents to electronic data collection and distribution, production of the Annual Statistical Yearbook, and development of the SCS’s official website, along with various related databases on its platform.
“With the World Bank’s technical support, the SCS prepared the National Strategy for the Development of Statistics for 2020-2025,” said Marco Mantovanelli, World Bank Country Manager for Uzbekistan. “We are proud to support the implementation of this strategy through the new project. High-quality statistical data will help advance Uzbekistan’s ambitious transformation by strengthening decision making and policy implementation based on data and evidence,” he concluded.
The country program for Uzbekistan is the World Bank’s second largest operation in the Europe and Central Asia region. It comprises 25 projects, – in areas, including economic management; agricultural modernization; health; education; water supply and sanitation; energy; transport; social protection; urban and rural infrastructure; and the government’s response to the COVID-19 pandemic, among others.
Under its new five-year Country Partnership Framework currently in preparation, the World Bank will continue providing financial and analytical support to the Government to implement reforms provided by Uzbekistan’s Development Strategy for 2022-2026.
Finance
Factors to Consider When Choosing Funeral Chairs for Memorial Services

The loss of a loved one is devastating for the entire family. For churches providing funeral and memorial services, it’s important to ensure grieving family members are as comfortable as possible throughout the service. The right funeral chairs can help you achieve this goal. To find the right chairs, there are several factors that you must consider.
Comfortable Seating: Enhancing the Memorial Experience for Attendees
Comfort is of the utmost importance when choosing chairs for funerals and memorials. Grieving attendees are already facing hardship. Providing a comfortable place to sit during the service will provide them with some comfort during this difficult time. Comfortable seating will also enhance the memorial experience because attendees can stay fully focused on the service.
Look for chairs with foam seating and comfortable fabrics. Chairs that offer full back support will allow attendees to rest or reflect without being distracted by discomfort.
Dignified Seating: Reflecting the Importance of the Occasion
For first memorial funeral services, it’s important to choose seating that is dignified and respectful of the occasion. Choose plain, solid fabrics. Patterned fabrics can be distracting or distasteful in some cases.
Acceptable colors for funeral chairs include (but are not limited to)
- Gray or charcoal;
- Black;
- Dark plum;
- Beige or brown;
- Dark red;
Choose your color and style wisely to ensure you’re providing dignified seating for attendees.
One advantage of choosing these colors is that it allows you to use these chairs for a variety of purposes. Rather than having to invest in a new set of seating for services and events, you can use the same seating for all occasions.
Improved Concentration: The Impact of Comfortable Seating on Focus
Those who attend funerals and memorial services should remain focused on the service and nothing else. Providing attendees with comfortable funeral chairs will allow them to stay focused on the service. During the funeral and memorial services, family members often share stories and thoughts about their lost loved one. A formal service may also be given.
Often, services last between 30 minutes and one hour – sometimes more. Because attendees will be asked to sit for long periods of time, it is crucial to ensure they have a comfortable place to sit.
When chairs are poorly constructed or have uncomfortable seats, attendees will be more concerned about their discomfort than listening to the service. They may become distracted or find themselves fidgeting and distracting others in the process.
However, when you invest in comfortable seating, attendees can sit quietly, reflecting on the words being spoken during the service.
Health Benefits: The Positive Impact of Comfortable Seating on Physical Health
One thing that is often overlooked when selecting funeral seating is its impact on physical health. Pain and discomfort are two common complaints when funeral attendees sit in pews.
If you have the option to offer individual seating, attendees will be much more comfortable. Cushioned seats will also ensure that guests with mobility issues can be present during the service without feeling uncomfortable.
Comfortable seating is an essential part of a memorial service; it not only provides guests with places to sit but also helps create a warm and inviting atmosphere where people can come together to honor the memory of their loved one.
When seats are uncomfortable or poorly made, guests may experience pain or other forms of discomfort that will make it difficult to be present during the service. Seats with foam padding can provide much-needed support and cushioning, allowing guests to sit comfortably even for long periods of time.
Chairs with solid, durable metal frames will also ensure that your seating stands up to frequent use. Providing safe seating is essential, and quality, durable chairs will help you achieve that.
Customizable Seating: Personalizing the Experience for Attendees
Another important factor to consider when choosing funeral seating is customization. Providing a personalized experience for attendees will allow them to experience the service in the way they envision.
Individual chairs will allow the family to choose the layout for the seating. Some chairs interlock to form pews, and some families may prefer this more traditional option.
Traditionally, the family of the deceased sits in the first row or first few rows. If the family wishes to maintain this convention, chairs of different colors can be provided, or additional space can be placed between these rows and the remainder of the seating.
When chairs are provided instead of traditional pews, there are more opportunities for customized layouts and seating for attendees. Being able to provide this level of customization may bring a small amount of comfort and peace to the family.
In Conclusion
When providing funeral and memorial services, churches and sanctuaries should not overlook the importance of providing comfortable seating for attendees. The right chairs will ensure attendees are comfortable during the service, allowing them to stay more focused on the message and less focused on discomfort or pain.
What is your experience with choosing and providing funeral chairs? Share your thoughts and comments.
Finance
Credit Suisse Collapse – this is a robbery of Arab investors

Riding an oil-price boom last year, Saudi Crown Prince Mohammed bin Salman directed government-backed Saudi National Bank to make a $1.5 billion investment in Credit Suisse. Now, the Saudi investment is almost wiped out after Credit Suisse’s emergency merger with UBS Group AG, ‘The Wall Street Journal’ claims.
Credit Suisse’s meltdown also erased billions of dollars in investments made by Qatar’s sovereign fund and the Saudi-based Olayan family, making the Persian Gulf one of the biggest losers from a slide in financial stocks since the collapse of two U.S. banks last week.
The Saudis struck the deal when oil prices were just below $100 a barrel, as Russia’s invasion of Ukraine juiced energy markets.
The steep losses are a reminder of how Gulf states were burned investing in Western banks and hedge funds during the financial crisis in 2007 and 2008. The value of foreign assets in portfolios of the Gulf Cooperation Council states in 2008 fell by $100 billion to a total of $1.2 trillion, not counting the vast personal holdings of their ruling families, the New York-based Council on Foreign Relations reported in 2009.
Michael Klein, a former Citigroup Inc. banker who has long worked with Middle East clients, connected the $600 billion PIF with Credit Suisse last fall, some of the people said. The troubled bank needed billions of dollars to fund a turnaround plan that would move it away from investment banking toward wealth management. Mr. Klein was working on the overhaul as a Credit Suisse board member.
PIF connected Credit Suisse and Saudi National Bank, the kingdom’s largest bank with close ties to the government, some of the people said. Prince Mohammed gave the green light for the Saudi bank to make the Credit Suisse investment, some of the people said.
The investment made Saudi National Bank the biggest shareholder in Credit Suisse, with just less than 10% ownership.
“The Saudi market [is] the 700-pound gorilla economically in the region, and just getting them to engage with us in Saudi Arabia would be more than good enough,” Mr. Khudairy said of Credit Suisse.
The Gulf region has deep ties to Credit Suisse. Tiny natural gas-rich Qatar began snapping up shares of Credit Suisse as markets wobbled in 2008, and led a group of private investors who pumped billions of dollars into the company in the weeks after the collapse of Lehman Brothers, ultimately building up a stake worth more than $3 billion.
Qatar and the Olayan family together plowed another $6.2 billion into the company in 2011 through a special type of debt. In 2013, Qatar converted over $4.5 billion of that debt into bonds called Additional Tier 1 capital notes — which are poised to be wiped out as part of Credit Suisse’s deal with UBS.
Investor confidence in Credit Suisse began wobbling last week after the collapse of Silicon Valley Bank in the U.S. On Wednesday morning, Mr. Khudairy told Bloomberg TV his bank would “absolutely not” be willing to assist if Credit Suisse needed more capital.
According to the people familiar with the matter, Saudi National Bank officials felt out of the loop, finding out about the talks with UBS via the news media.
A group led by Saudi National Bank proposed injecting around $5 billion into Credit Suisse, ‘The Wall Street Journal’ previously reported. Under the plan, “Credit Suisse bondholders would have been fully protected.” But Swiss ministers rejected the offer.
Finance
The best paper writing service for urgent papers

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