EBRD to provide loan to Uzbek fiberglass producer

Business Materials 13 October 2021 18:27 (UTC +04:00)
EBRD to provide loan to Uzbek fiberglass producer

BAKU, Azerbaijan, Oct. 13

By Fakhri Vakilov – Trend:

European Bank for Reconstruction and Development (EBRD) will provide a loan of $5 million to Ecoclimat Group, which produces fiberglass in Uzbekistan, Trend reports citing the bank's press service.

Ecoclimat Group is the only fiberglass manufacturer in Central Asia.

The loan will help launch a new plant - Angren Insulation and increase the annual output of thermal insulation materials to 32,000 tons.

This will help the company meet the growing demand for mineral wool insulation products and provide energy-efficient thermal balancing solutions in a region renowned for its harsh climate.

Moreover, the commissioning of Angren Insulation will reduce carbon dioxide emissions by 85,000 tons per year.

To date, the EBRD has invested nearly 2.6 billion euros in 101 projects in Uzbekistan.


Follow the author on Twitter:@vakilovfaxri