Uzbekistan, Tashkent, Dec. 9 / Trend D. Azizov /
The European Bank for Reconstruction and Development (EBRD) allocated a loan worth 1.4 million to the European-Uzbek private enterprise Marvin Brands specializing in fruit juice production, nectars and drinks.
According to an EBRD press release, the allocated funds will be used to purchase raw materials, equipment and packaging materials, including 600 refrigerators. This will allow the company to expand its products and create a regional distribution system.
The terms of the loan have not been reported.
The share of Marvin Brands in the total volume of juice production in Uzbekistan is about 15 percent. The company produces more than 10 kinds of juice using Tetra Pak equipment.
The EBRD has allocated about 550 million euro to Uzbekistan under over 50 projects in power engineering, entrepreneurship, transport, construction, development of mineral resources, and public utilities since 1992.
In 2004, the EBRD decided to reduce investments in the Uzbek public sector due to the slow rate of political and economic reforms, and focus on projects in social infrastructure and support for the private sector. The EBRD's management said they will focus their activity on supporting the private sector, water supply projects and cross-border trade to improve living standards.
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