Uzbekistan cooperates with European Bank for Reconstruction and Development

On January 31, 2022, the Deputy Prime Minister of the Republic of Uzbekistan - Minister of Investment and Foreign Trade Sardor Umurzakov held a video conference with the President of the European Bank for Reconstruction and Development Odile Reno-Basso.

The talks focused on the current state and prospects of deepening mutually beneficial cooperation between Uzbekistan and the EBRD, with a view to implementing new projects aimed at stimulating socio-economic development in the country and supporting the private sector.

It was noted that for the second year in a row, Uzbekistan has become the largest partner of the bank in Central Asia in terms of borrowed funds. In 2021, the EBRD has invested about $ 700 million US in Uzbekistan as part of 22 investment projects in the fields of alternative energy, infrastructure development and small and medium business support. At the same time, last year, Uzbekistan entered the EBRD's "Top 5 Countries for Investment".

To date, the EBRD-supported portfolio encompasses 11 projects worth € 838 million. The Uzbek side welcomed the development of cooperation between the EBRD and private companies and commercial banks of Uzbekistan. Since the partnership inception, the EBRD has provided more than 2.8 billion euros for 106 projects. 48% of the bank's investment portfolio consists of projects to support the private sector, and the total amount of financing provided to commercial banks in the form of credit lines for small and medium-sized businesses is $ 450 million US.