The European Bank for Reconstruction and Development (EBRD), under the GEFF II Uzbekistan programme, will allocate up to $30 million in “green” financing for business entities in Uzbekistan, the bank’s press service reported.
The funds will be provided through Hamkorbank and will mainly support energy-efficiency and sustainable development projects. In particular, initiatives aimed at modernising production, reducing energy consumption and improving companies’ climate resilience will be backed.
Part of the loan will be supported by concessional co-financing provided by the Government of Canada under the HIPCA climate partnership. EU countries, the United States, the United Kingdom and other donors have also joined the initiative.
According to the EBRD, as of the end of December the bank had invested more than $6.6 billion in Uzbekistan through 196 projects. The bulk of investments has been directed to supporting the private sector.
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