The awarding ceremony was held in Karlsruher, Germany. The award was initiated in 2012 by the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), European Organization for Sustainable Development (EOSD) and Karlsruher administration.

The award “For sustainable development” is given to banks and financial institutes of member states of ADFIAP for their contribution to sustainable development of economy, social sphere and environment.

Over 200 banks and financial institutions competed for the award in last contest. National Bank of Uzbekistan for Foreign Economic Activity was among the winners in the category “Sustainable project financing”.

The certificate was handed over to the Uzbek bank for its participation in project “Construction of electrified railroad Angren-Pap”.

Uzbekistan Temir Yollari started construction of new electrified railway Angren-Pap with the length of 122.7 km in July 2013.

The railway will pass through Qamchiq pass and link Ferghana Valley (Andijan, Namangan and Ferghana regions) with other part of Uzbekistan.

The cost of the project makes up US$1.769 billion and was included to investment plan of the company for next five years. The international financial institutions allocated US$1 billion to the project and the Uzbek side issue other part of the resources. The project will be implemented in five years.