EBRD supports green innovation in Uzbekistan’s agribusiness sector

By Anton Usov

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  • EBRD organised financial package of US$ 6.3 million to Uzbek dairy company Milk Euro Food
  • Up to US$ 750,000 of the package to be co-financed by the TaiwanICDF
  • Support by FINTECC grant of US$ 39,000

The EBRD is promoting green technologies in Uzbekistan’s agribusiness sector by organising a financial package of up to US$ 6.3 million to Milk Euro Food, a Chirchik-based producer of butter and spreads. Up to US$ 750,000 of the loan amount will be provided by the TaiwanICDF.

The facility is supported by the EBRD’s Finance and Technology Transfer Centre for Climate Change (FINTECC) programme, which is designed to transfer technology in the area of climate change mitigation and adaptation and financed by the Global Environment Facility Trust Fund. A FINTECC grant of US$ 39,000 will finance the acquisition of 300 refrigerators that use an isobutene R-600a refrigerant with a low global warming potential. The company will be able to reduce energy consumption and cut its annual CO2 emissions by 92 tonnes.

Located north of the country’s capital, Tashkent, Milk Euro Food has been providing top-quality agricultural products to the people of Central Asia’s most populous country since 2004. The EBRD-organised financing, will help improve the company’s environmental and social standards and should make the firm a benchmark for the domestic and regional agri-processing industry.

The project was supported by donor funding from the EBRD Small Business Impact Fund (with contributions from: Italy, Japan, Luxembourg, South Korea, Sweden, Switzerland, Taipei China and the United States of America) and the Japan-EBRD Cooperation Fund.

To date, the EBRD has invested more than €3.2 billion in 110 projects across Uzbekistan. 

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