EBRD supports green lending in Uzbekistan

• EBRD to lend up to US$30 million to Hamkorbank
• Funds to support green lending in Uzbekistan
• Concessional co-financing to be provided by the HIPCA

The European Bank for Reconstruction and Development (EBRD) is helping micro, small and medium-sized enterprises (MSMEs) in Uzbekistan to improve their access to green finance and promote green innovation by providing fresh funds under its Uzbekistan Green Economy Financing Facility II (GEFF II Uzbekistan).

An EBRD loan of up to US$30 million (€25.7 million) under GEFF II Uzbekistan will allow Hamkorbank to expand its energy-efficiency lending to companies and households across the country, who can use the funds to modernise production, increase their energy efficiency and improve their climate resilience. The loan will be supported by concessional co-financing provided by the government of Canada under the High-Impact Partnership on Climate Action (HIPCA).

HIPCA donors include: Austria, Canada, Finland, Germany, the Netherlands, Norway, South Korea, Spain, Switzerland, the TaiwanICDF (International Cooperation and Development Fund), the United Kingdom and the United States of America.

The EBRD has invested over US$6.6 billion in Uzbekistan to date through 196 projects, with the majority of those funds supporting private entrepreneurship, contributing to the country’s economic development.