EBRD and Uzbekistan sign enhanced cooperation agreement

• EBRD and Uzbekistan sign new enhanced partnership agreement
• Long-term plan will support public- and private-sector development
• US$ 20 million facility will support local SMEs

The European Bank for Reconstruction and Development (EBRD) and the government of Uzbekistan have agreed to deepen their long-term strategic cooperation, helping to establish a competitive, resilient, green and well-governed private sector and supporting the preparation and implementation of public-sector projects.

The enhanced partnership framework agreement (EPFA) between the two parties will promote economic development in Uzbekistan through investment instruments, grants, technical assistance and policy dialogue.

The parties will also give ear-marked assistance to domestic small and medium-sized enterprises (SMEs) across Uzbekistan through a separate cooperation agreement providing for technical cooperation and advisory support. The government of Uzbekistan will commit up to US$ 20 million of grant funding for this purpose, which will be supported by additional funding from the EBRD.

To date, the EBRD has invested almost US$ 6.9 billion (€6 billion) in Uzbekistan through 210 projects, with most of the funds supporting private entrepreneurship. The country has been the leading recipient of EBRD funding in Central Asia in each of the past six years.