Baku, Azerbaijan, Oct. 14
By Nigar Guliyeva- Trend:
The European Investment Bank (EIB) and Uzbekistan a framework agreement on October 13 establishing the legal basis for the EIB's activities in Uzbekistan, including the provision of finance and technical assistance.
The EU bank can now support public and private sector projects in the areas of infrastructure, energy and energy efficiency and assist SMEs in the country.
Uzbekistan become the fourth state in Central Asia to establish a partnership with the EIB. Similar agreements have already been signed with Kazakhstan, Kyrgyzstan and Tajikistan.
EIB Vice-President Vazil Hudák, commenting on the deal, stated that the agreement is a significant landmark allowing the EIB to proceed with the financing of investments that are mutually beneficial to Uzbekistan and the European Union.
Deputy Prime Minister of the Republic of Uzbekistan Jamshid Kuchkarov, in turn, stressed that Uzbekistan attaches significant importance to the signing of the Framework Agreement with the European Investment Bank, which opens up additional opportunities for attracting European investments and technologies to the economy of Uzbekistan.
"We hope that engagement with the EIB within the framework of this agreement will allow implementing investment projects with practical impact on the promotion of reforming various sectors of the economy of the country, including the attraction of advanced European technologies.
The development of cooperation with the EIB is in line with the priorities of the reforms of the President of Uzbekistan Shavkat Mirziyoyev aimed at improving the business and investment climate within the framework of the Strategy for Development of Uzbekistan for 2017-2021," he said.
The EIB reported that the launch of its operations in Uzbekistan supports the EU Strategy for a New Partnership with Central Asia.
The loans provided by the EIB Group in this region come from the lending window for Asia provided under the mandate from the European Council and European Parliament for the period 2014-2020. 182 million euros of this has been made available for use in Central Asia. Additionally, the EU bank finances projects in Central Asian countries under the Climate Action & Environment Facility.
So far the EIB has signed operations amounting to some 710 million euros in Central Asian countries to finance infrastructure projects and SMEs.