TASHKENT, Uzbekistan, May 1. The European Bank for Reconstruction and Development (EBRD) will allocate 25 million euros to support German Zeppelin GmbH's operations in Uzbekistan as well as in Armenia and Ukraine, Trend reports.
According to the bank, a total of 10 million euros will be committed at the signing of the contract, and 15 million euros will remain uncommitted.
The project involves subscribing to an environmental, social, and governance-linked Schuldschein (promissory note) to be issued by Zeppelin GmbH to support its supply and servicing of mining equipment in Uzbekistan as well as in other countries of operation.
Moreover, Zeppelin GmbH is one of the leading international groups active in the supply and service of mining and construction equipment and power systems solutions.
Meanwhile, the EBRD plans to strike a deal on allotting funds to Uzbekistan’s Ipak Yuli Bank under the Financial Intermediaries Framework in May. The loan will amount to $10 million and will be provided for three years.
The loan proceeds will be provided to local small and medium-sized enterprises (SMEs) and private entrepreneurs in accordance with the eligibility criteria defined in the SME Policy Statement.