TASHKENT, Uzbekistan, September 13. Asian Infrastructure Investment Bank (AIIB) has invested $25 million in Uzbekistan’s Uzpromstroybank sustainability bonds, Trend reports.
The proceeds will be used to finance green projects, including ones to improve energy efficiency, reduce greenhouse gas emissions, ensure water security, support women-led initiatives, and finance small and medium-sized businesses.
These are the first green bonds issued as part of the sustainable financing program of the JSCB "Uzpromstroybank". The bonds are issued in accordance with the principles of green and social bonds of the International Capital Markets Association.
Uzpromstroybank has also received investments from the International Finance Corporation, the German Development Finance Institute and the Austrian Development Bank amid private placement of five-year Eurobonds of sustainable development in the amount of $100 million organized by the bank.
In 2019, JSCB "Uzpromstroybank" became the first bank in Uzbekistan to enter the international capital market by placing Eurobonds on the London Stock Exchange in the amount of $300 million.
The AIIB investment portfolio in Uzbekistan includes 13 projects worth more than $2.4 billion in the fields of energy, infrastructure development, transport and medicine, including $394 million to finance the development of solar panels in Samarkand, Jizzakh and Surkhandarya.