BAKU, Azerbaijan, Sept. 7
By Klavdiya Romakayeva - Trend:
The first non-repayable grant funds were issued to entrepreneurs of Uzbekistan within the framework of the GEFF (Green Economy Financing Facilities) program in conjunction with the EBRD (European Bank for Reconstruction and Development), Trend reports citing Uzbekistan news agency.
Ipak Yuli Bank signed a loan agreement with the European Bank for Reconstruction and Development for the implementation of the GEFF program in the amount of $5 million. The purpose of this agreement is to provide financing for projects of entrepreneurs aimed at the transition of the business to a “green economy”, which means energy saving, renewable energy, saving water, saving materials.
Within the framework of the above agreement with the participation of international engineers provided by the EBRD, Ipak Yuli Bank-financed 13 projects in the field of “green technology” throughout Uzbekistan via the resources provided by the EBRD.
To date, our projects have been successfully verified by international engineers, and they were awarded grant funds in the amount of 10 percent of the loan amount, for a total of $73,186.
“The funds can be used to “rehabilitate” the business, which is extremely necessary for entrepreneurs in a difficult period of the pandemic. The rest of the projects financed under this agreement with the EBRD are undergoing a verification stage for receiving grant funds and will soon also receive their incentives from Ipak Yuli Bank and the EBRD,” said the coordinator of the EBRD projects in Ipak Yuli Umar Abbaskhanov.
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