Financing green technologies in Uzbekistan.

Financing green technologies in Uzbekistan. On Tuesday, September 10, the Wyndham Hotel will host the launch of a pilot project of the EBRD Program "Financing Green Technologies in Uzbekistan", within the framework of which a Loan Agreement will be signed with the first partner bank, Ipak Yuli Bank. Small businesses in Uzbekistan will be able to invest in energy efficiency and renewable energy thanks to access to the pilot Green Economy Financing Facility (GEFF), which was signed today with Ipak Yuli Bank. The facility will provide loans to small and medium-sized enterprises (SMEs) and corporations to invest in green technologies that reduce greenhouse gas emissions, as well as climate change adaptation and mitigation technologies. Ipak Yuli Bank has signed up as the first local partner, receiving a €4.4 million EBRD credit line for lending to private companies. The loans will cover investments in green technologies such as insulation, photovoltaic solar panels, geothermal heat pumps and water-efficient irrigation systems. Businesses can identify typical green technologies using the GEFF Technology Selector. The official signing ceremony of the loan agreement between the EBRD and Ipak Yuli Bank was attended by various stakeholders, including government officials, international donors and financial institutions, local financial institutions, green technology suppliers and manufacturers and businesses. The EBRD was represented by the Head of the Representative Office in Uzbekistan, Alkis Vrienios Drakinos, who commented: “Improving access to green finance and developing the financial sector is one of our key priorities in Uzbekistan. We are pleased to work with Ipak Yuli Bank to support small and medium-sized businesses and corporations as they strive to become more energy efficient.” GEFF aims to expand its reach to include more participating financial institutions, supporting the country's transition to a green economy. To date, the EBRD has invested €1.3 billion in the Uzbekistan economy through 70 projects.