BAKU, Azerbaijan, Jan. 16
By Fakhri Vakilov - Trend:
The European Bank for Reconstruction and Development (EBRD) reached a new record in Uzbekistan in 2019 by investing in 13 projects of the private and public sectors in the amount of $576 million - the largest amount of financing in the entire history of bank’s operation in the country, Trend reports citing the Uzbek media.
Major projects for electricity and water supply were signed and a regional office was opened in Andijan.
The bank has invested in key infrastructure projects and expanded its activities by opening a regional office in Andijan in the Ferghana Valley, the most densely populated part of Central Asia.
In the energy sector, the bank made the largest investments to date in Uzbekistan, providing a sovereign loan of $238.5 million for the construction of additional generating capacities at the Talimarjan power station.
Other key infrastructure investments include: a construction project for power lines in Navoi ($79.7 million), a reconstruction project for the drainage system in Kashkadarya region ($59.5 million), and a reconstruction project for the drainage system in Khorezm ($89.4 million).
The EBRD supported SMEs through credit lines to financial institutions, as well as through direct loans in manufacturing, such as financing expansion of Healthline, a leading local manufacturer and seller of disposable medical supplies, in the amount of $9.5 million.
Tillo Domor, a popular local cheese producer, received bank financing through a risk-sharing mechanism with Hamkorbank.
The EBRD facilitated the development of international trade in, from and within Uzbekistan by opening trade finance limits for Uzbekistan’s National Bank, Asakabank, Uzpromstroybank, Ipoteka Bank, KDB Bank Uzbekistan, Hamkorbank and Ipak Yuli Bank.
To date, the EBRD has invested $2.06 billion in the economy of Uzbekistan, participating in 79 projects.
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