Translated version of this PSD: Uzbek
The establishment of a Green Economy Financing Facility ("GEFF Uzbekistan", "Facility") in Uzbekistan, the first intermediated EBRD GEFF in the country. The Facility for a total amount of US $ 60 million or equivalent in UZS will be provided to the local Partner Financial Institutions ("PFIs").
GEFF Uzbekistan will be available to PFIs, which will on-lend funds for eligible green economy investments implemented by qualifying private sector sub-borrowers.
The Facility is expected to be supported by grant funds from the European Union ("EU"), the EBRD Shareholder Special Fund (SSF) and potentially other donors.
The Facility will aim to address high levels of energy and carbon intensity in Uzbekistan that hinders sustainable economic development and competitiveness of businesses in the country. At the same time low cost of energy hampers the introduction of green technologies and practices in the local market. Therefore, main objectives of the Facility will be to (i) scale up investments in green technologies, (ii) demonstrate commercial viability of energy efficiency investments and (iii) encourage Uzbekistan's transition to a green economy.
The Facility will contribute towards building a green economy by facilitating commercial energy efficiency lending in Uzbekistan through (i) stimulating the demand for advanced green technologies and products, (ii) increasing awareness among stakeholders and banks on the potential of advanced green solutions, and (iii) transferring skills to PFIs, sub-borrowers and intermediaries on the development and financing of green economy projects.
PFIs may be local state-owned and private banks and non-bank financial institutions established and operating in Uzbekistan.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Categorised FI (ESP 2014). All PFIs will be required to comply with the EBRD's Performance Requirements (PRs) 2, 4 and 9 as well as submit Annual Environmental and Social Reports to the Bank.
GEFF Uzbekistan will be supported by a comprehensive Technical Cooperation ("TC") package aiming to support the (i) implementation of the Facility, (ii) improvement in overall awareness of green investment and (iii) capacity building for all stakeholders. The TC will be provided to both PFIs and sub-borrowers. Activities that will be undertaken by a Project Consultant include: i) Facility set-up and administration, ii) general market awareness, iii) capacity building and toolkit development, iv) capacity building for sub-borrowers, and v) verification of sub-projects as well as monitoring and reporting to the EBRD.
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Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).
IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.
Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.