BAKU, Azerbaijan, May 18. The European Bank for Reconstruction and Development (EBRD) will provide a long-term financing of up to 28 million euros to Uzbekistan Airports JSC for airport equipment modernization at international airports in the country, Trend reports via the company.
The relevant agreement was concluded between on the sidelines of the 32nd Annual Meeting of the EBRD's Board of Governors held in Samarkand held in Samarkand on May 16-18.
Rano Djuraeva, Chairman of the Management Board of Uzbekistan Airports, and Ekaterina Miroshnik, Director of the Infrastructure Department for Eurasia, exchanged mandate letters.
"The funds from the bank will be used to purchase new apron buses, baggage tractors, belt loaders, aircraft tow tractors, special vehicles for aircraft water supply and toilet servicing, ambulifts, sweepers, de-icing machines, and more. According to preliminary estimates, thanks to financing from the EBRD, 76 units of new airport equipment will be procured," noted Rano Djuraeva.
Furthermore, agreements have been reached between the EBRD and Uzbekistan Airports for the allocation of grant funds totaling over 1 million euros. As part of this, the bank plans to engage an international consulting company to help optimize key business processes and thereby enhance the operational efficiency of Uzbekistan Airports and its subsidiaries. This will be the first example of such cooperation with a state-owned company in Uzbekistan where financing occurs directly without government guarantees.
The financial support and grant funds provided by the EBRD will contribute to the modernization efforts of Uzbekistan's airports, enhancing their infrastructure and operational capabilities. This collaboration marks a significant milestone in fostering partnerships between international financial institutions and state-owned enterprises in Uzbekistan, promoting economic growth and development in the country's aviation sector.
The EBRD is a leading institutional investor in Uzbekistan, with more than 4 billion euros invested in 135 projects.