The annual investment volume from the European Bank for Reconstruction and Development (EBRD) in Uzbekistan has set a new record, according to the press service of the financial institution.
In 2024, the EBRD and the government of the republic signed 34 agreements totaling €938 million ($960 million), marking the highest figure in Central Asia. The bank also facilitated the attraction of €383 million from co-financing organizations.
Approximately 55% of the bank's investments were directed towards supporting "green" economy initiatives. In addition to renewable energy sources, this includes projects in the chemical and other sectors.
For instance, the EBRD organized the allocation of an A/B loan of $226 million for the construction of a 200 MW solar power station and a 501 MWh energy storage system in the Tashkent region. The battery complex has become one of the largest projects of its kind financed in the countries where the bank operates.
The bank also provided $66.4 million for the construction of 230 km of high-voltage power transmission lines in the Navoi region. Another $65 million was allocated to finance the "Uzkimyo Sanоat" project and ACWA Power for the production of "green" hydrogen in Chirchik.
Furthermore, the bank allocated a sovereign loan of $238 million for the reconstruction of the highway between Urgench and the A380 highway. The project includes plans for the construction of a new bridge over the Amu Darya River.
The financial sector of Uzbekistan has attracted over €300 million in loans and trade finance limits from the EBRD. In particular, the non-bank TBC Uzbekistan received additional investments from the organization, as well as a loan to support small businesses.
The EBRD's small business consulting program launched 60 consulting projects in the regions of Uzbekistan, half of which focused on women's entrepreneurship. These initiatives involved 80,000 entrepreneurs.
Earlier, Spot reported that the EBRD could allocate up to $200 million to Uzbekistan for "green" growth.