EBRD sets a new record for investments in Uzbekistan

EBRD sets new record for investment in Uzbekistan EBRD sets new record for investment in Uzbekistan US$576 million committed to support infrastructure, SME development and regional cooperation • EBRD sets new record in Uzbekistan in 2019: total investment amounted to US$576 million across 13 investment projects• Major electricity and water projects signed• Opened The EBRD's Andijan regional office reached a new record in Uzbekistan in 2019, investing US$576 million (€517 million) in 13 private and public sector projects – the Bank's largest ever financing in the country. The Bank invested in key infrastructure projects and expanded its activities by opening a regional office in Andijan in the Fergana Valley, the most populous part of Central Asia. In the energy sector, the Bank made its largest investment to date in Uzbekistan, providing a sovereign loan of €213.8 million for the construction of additional generating capacity at the Talimarjan power plant. Other key infrastructure investments include the Navoi Power Transmission Project (€71.5 million), the Kashkadarya Wastewater Rehabilitation Project (€53.4 million) and the Khorezm Wastewater Rehabilitation Project (€80.2 million). The EBRD continued to engage with the Uzbek authorities to improve the investment climate and contributed to the establishment of the Foreign Investor Council. Particular attention was paid to supporting important reforms in such sectors such as renewable energy, mining and financial sectors. The EBRD is also expanding its local currency lending operations in the country. The EBRD has supported SMEs through credit lines to financial institutions, as well as through direct manufacturing loans, such as financing the €8.55 million expansion of Healthline, a leading local manufacturer and marketer of disposable medical products. Tillo Domor, a popular local cheese producer, received Bank financing through a risk-sharing arrangement with Hamkorbank. The EBRD promoted international trade to, from and within Uzbekistan by opening trade finance limits to the National Bank of Uzbekistan, Asakabank, Uzpromstroybank, Ipoteka Bank, KDBBank Uzbekistan, Hamkorbank and Ipak Yuli Bank. To date, the EBRD has invested in the economy Uzbekistan 1.85 billion Euros, participating in 79 projects.