The EBRD allocated a record €938 million to Uzbekistan in 2024.

More than half (55%) of all investments were directed towards projects related to the green economy.

Additionally, €383 million was attracted from international co-financing organizations, allowing the total investment amount to exceed €1.3 billion.

The EBRD supported the establishment of the first production facilities for renewable hydrogen in Central Asia. As part of this project, the bank provided funding of $65 million to the joint venture ACWA Power and "Uzkimyosanot." This initiative aims to decarbonize fertilizer production in the country.

One of the key projects was an A/B loan of $226 million aimed at constructing a 200 MW solar power plant and a 501 MWh battery energy storage system (BESS) in the Tashkent region. This is the largest project of its kind financed by the bank in its countries of operation.

Furthermore, the EBRD allocated a sovereign loan of $66.4 million to the National Electric Networks of Uzbekistan. These funds will be used to build a 230-kilometer 500 kV power line in the Navoi region. The project is intended to eliminate bottlenecks in the electricity grid, reduce power outages, and integrate renewable energy sources.

To enhance transportation infrastructure, the EBRD provided a loan of $238 million for the restoration of a strategic road and the construction of a bridge over the Amu Darya River in the Khorezm region. The implementation of this project will strengthen sustainable transport links in the Central Asian region.

The financial sector of Uzbekistan has also become a significant area of investment. The EBRD allocated over €300 million for trade financing and provided credit lines to local financial institutions, including Hamkorbank, Ipoteka Bank, TBC Bank, and Uzbek Leasing International. Special attention was given to supporting small and medium-sized enterprises, including energy-efficient projects, as well as businesses led by youth and women. In addition, the EBRD increased its investment in the equity of TBC Uzbekistan, the country's first digital bank.

As part of its partnership with the government of Uzbekistan, the EBRD has begun preparations for the privatization of one of the largest state banks — Asakabank.

In 2024, the EBRD's small business consulting program in Uzbekistan implemented 60 consulting projects, half of which were targeted at women entrepreneurs. Over 40% of the projects reached rural areas. Moreover, during the year, more than 80,000 entrepreneurs participated in training sessions, workshops, and events aimed at networking and knowledge exchange.

The EBRD was actively involved in the development of several legislative initiatives, facilitating the adoption of important laws regulating privatization, the electricity market, and subsoil use.