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EBRD interested in renewable energy projects in Uzbekistan (Exclusive)

Business Materials 22 January 2018 11:03 (UTC +04:00)

Baku, Azerbaijan, Jan.22

By Nigar Guliyeva – Trend:

The European Bank for Reconstruction and Development (EBRD) will consider renewable energy and energy efficiency projects in Uzbekistan that meet its standard requirements, the EBRD told Trend.

Currently, the Bank is working on its country strategy for Uzbekistan, to be agreed with the Uzbek authorities in the first half of 2018 .

The bank said that it has already identified a number of potential operations and will work on converting these to signed financings.

"In addition, the bank will keep working to spot new financing opportunities across Uzbekistan's economic sectors. Currently, we make progress in Municipal infrastructure projects related to water management and district heating, in banking to support private sector development via local bank financing, as well as some direct financings in agribusiness and manufacturing sectors," the bank said.

The EBRD is the largest institutional investor in Central Asia, with close to €11.6 billion ($12.3 billion equivalent) committed to projects in a variety of sectors, from infrastructure to agriculture, with a focus on private sector development.

To date, the EBRD invested €864 million in Uzbekistan in 57 projects. After more than a decade absence from Uzbekistan, the EBRD relaunched its activity in the region in 2017.

During 2017, EBRD delivered six signed operations with total value of $191 million spread over banking, manufacturing and agribusiness sectors, launched the Small Business advisory programme, started dialogue on a number of key business climate themes and developed a strong pipeline of new projects.

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