The European Bank for Reconstruction and Development (EBRD) is helping micro, small and medium-sized enterprises (MSMEs) in Uzbekistan improve their access to green finance and promote green innovation by providing fresh funds under its Uzbekistan Green Economy Financing Facility II (GEFF II Uzbekistan), the bank announced. An EBRD loan of up to $30 million under GEFF II Uzbekistan will allow Hamkorbank to expand its energy-efficiency lending to companies and households across the country. Borrowers can use the funds to modernize production, increase energy efficiency and improve climate resilience.
The loan will be supported by concessional co-financing provided by the government of Canada under the High-Impact Partnership on Climate Action (HIPCA). HIPCA donors include Austria, Canada, Finland, Germany, the Netherlands, Norway, South Korea, Spain, Switzerland, the TaiwanICDF (International Cooperation and Development Fund), the United Kingdom and the United States.
The EBRD has invested over $6.6 billion in Uzbekistan to date through 196 projects, with most of those funds supporting private entrepreneurship and contributing to the country’s economic development.
