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Who we are
Overview: about the EBRDWho we are
Overview: about the EBRD
Our story
Explore the EBRD’s journey over the decades, investing in businesses, supporting economies and driving lasting change across its regions.
- Our background and history
- Our organisation
- Our values
- Strategies, governance and compliance
- Project accountability
What we do
Overview: how the EBRD operatesWhat we do
Overview: how the EBRD operates
How we deliver systemic impact
Across three continents, the EBRD supports the transition to successful market economies.
- Where we work
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- Sectors we work in
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Overview: how you can work with the EBRDWork with us
Overview: how you can work with the EBRD
What we offer for businesses
We draw on three decades of regional knowledge and financial expertise to tailor our products and approaches to each client's needs.
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Eng
Eng
Moving the needle?
October 2023
The EBRD in Uzbekistan (2017–22)
Background
In 2023, IEvD reintroduced country-level evaluations into its product mix, with a pilot evaluation of the Bank’s operations in Uzbekistan covering the period 2017–22. The rationale behind piloting country-level evaluations was to provide a new perspective on how the EBRD contributes towards systemic change. The evaluation used a theory-based approach. It examined evidence for systemic change, using the Bank’s strategic priorities in Uzbekistan as an initial framework: enhancing competitiveness, promoting green energy, and supporting regional integration.
A critical part of this evaluation was developing an understanding of the political economy context in Uzbekistan and the evolving role that the EBRD has played since it re-entered the country in 2017.
Main findings
The report found that the Bank’s re-entry into Uzbekistan has been a success story overall. The Bank has seen a rapid rise in investment, built on establishing deep relationships with local stakeholders. Operations have demonstrated strategic relevance and additionality, as well as coherence with other IFIs. The EBRD has contributed towards systemic change in Uzbekistan’s green energy and banking sectors, through investments and policy dialogue. In other areas, such as municipal infrastructure or regional connectivity, progress has been more limited, both because of challenges in identifying bankable projects and of implementation delays.