Uzbekistan-EIB agreement comes into force

Uzbekistan-EIB agreement comes into force

Baku, Azerbaijan, March 3

By Ali Mustafayev – Trend:

The agreement between Uzbekistan and the European Investment Bank (EIB) on its activities in Uzbekistan has entered into force, the Uzbek Foreign Ministry said in a message.

In October 2017, the EIB and Uzbekistan signed a framework agreement in Washington that defines the legal framework for the bank's activities in the country. The bank will officially be able to support public and private sector projects in such areas as infrastructure, energy and energy efficiency, and small business development.

After the agreement was signed, an EIB expert group started work on a program of actions and other preparatory work for entering the Uzbek market with its credit resources.

According to EU officials, the EIB's entering the country, which remains a strategically important partner of the European Union in Central Asia, will be a positive aspect for relations between Europe and Uzbekistan.

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