TASHKENT, Uzbekistan, March 5. The European Bank for Reconstruction and Development (EBRD) and Hamkorbank are actively supporting the expansion of the logistics capabilities of Uzbekistan's Multimodal Trans Terminal (MTT), promoting regional trade, and the integration of Central Asian countries, Trend reports.
A new project financed with the cooperation of the EBRD and Hamkorbank aims to expand the operations of MTT, a private logistics and rail transportation company based in Tashkent.
Under a risk-sharing arrangement between the banks, the EBRD bears 50 percent of the risk on a $1.1 million loan from Hamkorbank to MTT. These monies will be used to purchase new terminal equipment and modernize the production cycle.
MTT, which offers integrated logistics, warehousing, and refrigeration services in Uzbekistan and elsewhere, will also utilize the funding to construct a modern container terminal in the country's capital.
As part of this project, MTT intends to adopt effective measures such as reducing energy consumption by 10 percent and installing smart power meters. In addition, the company plans to launch an internship program in collaboration with a local educational institution that adheres to inclusive ideals.
Meanwhile, EBRD is promoting green and inclusive lending in Uzbekistan by offering a financing package of up to $20 million to Ipoteka Bank.
Uzbekistan is the leading recipient of EBRD funding in Central Asia for the fourth year running. To date, the Bank has invested around 4.28 billion euros in 147 projects across the country, with most of those funds supporting private entrepreneurship.