TASHKENT, Uzbekistan, May 30. The European Bank for Reconstruction and Development (EBRD) will provide a $1.1 million loan to Uzbekistan’s Avtobus Rent, a leading private car and bus rental company, Trend reports.
According to the bank, the loan will fund the purchase of new passenger vehicles, helping to meet the growing demand for comfortable transport for tourists in Uzbekistan.
In addition, a $90,500 grant will be provided by the Swiss State Secretariat for Economic Affairs through the EBRD’s Small Business Impact Fund.
The bank will share the risk of the loan provided by Uzbekistan’s Hamkorbank.
Meanwhile, the EBRD is using its Risk Sharing Framework to support the expansion of domestic businesses in Uzbekistan and boost the lending capacity of local partner banks.
In Central Asia, Uzbekistan has received the most EBRD assistance for four years. A majority of the bank's roughly 4.42 billion euros in 151 projects nationwide have supported private entrepreneurship.
At the same time, Uzbekistan and EBRD adopted a new partnership strategy in small and medium business, women's entrepreneurship, alternative energy, digital technologies, and others.