...

Uzbekistan, EBRD discuss enhanced co-op in renewable energy sector

Uzbekistan Materials 2 December 2023 12:34 (UTC +04:00)
Uzbekistan, EBRD discuss enhanced co-op in renewable energy sector
Kamol Ismailov
Kamol Ismailov
Read more

TASHKENT, Uzbekistan, December 2. The EBRD and Uzbekistan have discussed expanding their collaboration in renewable energy development programs, Trend reports.

The issue was discussed during a meeting between Uzbek President Shavkat Mirziyoyev and EBRD President Odile Renaud-Basso on the sidelines of the World Summit on Climate Action, which was held in conjunction with the 28th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP28) in Dubai.

During the conference, it was reported that the bank's investments in Uzbekistan totaled more than 3.5 billion euros, with the private sector accounting for 60 percent of the project portfolio.

Parties expressed confidence that the Partnership Strategy under development will significantly improve the quality and scale of cooperation, particularly in areas such as small and medium-sized business development, women's entrepreneurship, the introduction of public-private partnership mechanisms, banking sector privatization, irrigation system modernization, road infrastructure development, and other industries.

Preparation for the next meeting of the Council of Foreign Investors next year was also discussed.

According to bank data, investments in sustainable infrastructure projects account for 77 percent of the total portfolio (1.972 billion euros).

The EBRD's active activities in the banking sector amounted to 16 percent (416 million euros).

Furthermore, initiatives in the domains of industry, trade, and agriculture account for the smallest portion of the portfolio. Their stake in the portfolio is seven percent (182 million euros).

Tags:
Latest

Latest