EBRD increases its investments in economy of Uzbekistan

Finance Materials 9 July 2020 12:45 (UTC +04:00)
EBRD increases its investments in economy of Uzbekistan

BAKU, Azerbaijan, July 9

By Ilkin Seyfaddini - Trend:

The European Bank for Reconstruction and Development (EBRD) summed up its activities in Uzbekistan in its Annual Review for 2019, Trend reports citing the bank.

In its review for 2019, bank highlighted its cooperation with Uzbek Hamkorbank.

”Tillo Domor is set to expand its cheese production with the help of a loan from local Hamkorbank. The EBRD is sharing part of the risk of the loan under a risk-sharing facility signed between the two banks. The Global Environment Facility Trust Fund financed a grant to support the project,” the message said.

Also, according to Bank’s review, the biggest EBRD investment in Uzbekistan in 2019 was a loan worth the US dollar equivalent of 214 million euros.

“This loan will help finance the installation of modern, efficient combined-cycle gas turbines at the Talimarjan power plant. The project is expected to make the energy supply in Uzbekistan more efficient, reliable and resilient to the effects of climate change”, the message said.

According to the review, European Bank for Reconstruction and Development invested 517 million euros in Uzbekistan’s economy during 2019, and has an active portfolio in the amount of 965 million euros. In 2018, EBRD invested 397 million euros and 69 million euros in 2017.

Overall EBRD invested 10.1 billion euros through 452 projects in 2019. Of that financing, an unprecedented 46 percent, or 4.6 billion euros, was invested in 'green economy'.


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