EBRD plans to provide loans to Uzbekistan for US$300m

Tashkent, Uzbekistan (UzDaily.com) -- The European Bank for Reconstruction and Development (EBRD) plans to provide additional loans for US$300 million to Uzbekistan by the end of 2018, Philip Bennett, First Vice-President of the bank, said in Tashkent.

The EBRD provided Uzbekistan with three loans for US$120 million. The loan agreements were signed on 8 November 2017.

Philip Bennett underlined that since the EBRD’s shareholders decided to resume work in Uzbekistan, the sides have prepared a number of projects.

He noted that the parties intend to sign credit agreements on them in 2017 and until the end of 2018. Until the end of 2018, the bank plans to allocate another US$300 million to Uzbekistan, Bennett added. He said that the parties have prepared 15 projects.

“We are talking about projects in such areas as municipal infrastructure, support of financial institutions, agriculture, commerce and other sectors”, Philip Bennett said.

The EBRD’s First Vice-President on behalf of the Bank welcomed the reforms in Uzbekistan, many of which, he said, “are bold and ambitious”.

Philip Bennet said that in March 2018 EBRD executives are expected to visit Uzbekistan.

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