EBRD opens its representative office in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) -- The European Bank for Reconstruction and Development (EBRD) opened its representative office in Uzbekistan on 8 November 2017.

The bank’s office is located in the building of the Uzbekistan Banking Association in Tashkent. The EBRD delegation led by First Vice President of the EBRD Philippe Bennett attended the opening ceremony of the office.

On 8 November, the EBRD and Uzbekistan signed three loan agreements for US$120 million.

The EBRD provided a loan for US$100 million to the National Bank for Foreign Economic Affairs of Uzbekistan. The NBU will receive US$70 million to support micro, small and medium-sized enterprises and US$30 million under the EBRD Trade Facilitation Program.

The bank also provided a credit for US$10 million to Agromir Juice to expand and develop the business. The drug manufacturer Mutabar Medical Standart will also receive US$10 million to expand and develop the business.

The EBRD and Uzbekistan also signed letters of request for funding of five projects in the areas of water and heat supply development in Namangan and Khorezm regions, as well as in Tashkent. Total amount of loans for these projects is US$215 million.

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