EBRD and Uzbekistan Expand Strategic Cooperation

Tashkent, Uzbekistan (UzDaily.com) — The European Bank for Reconstruction and Development (EBRD) and the Government of Uzbekistan have agreed to expand long-term strategic cooperation aimed at building a competitive, sustainable and environmentally friendly private sector, as well as supporting public sector projects.

The sides signed a framework agreement on the strengthening of partnership (EPFA), which will support the country’s economic development through investment instruments, grants, technical assistance and policy dialogue.

Special attention will be given to supporting small and medium-sized enterprises (SMEs) across Uzbekistan. Under a separate agreement, technical support and advisory services will be provided to domestic businesses. The Government of Uzbekistan will allocate grant funding of up to US$20 million, while the EBRD will complement this amount with additional investments.

To date, the EBRD has invested nearly US$6.9 billion (6 billion euros) in Uzbekistan’s economy under 210 projects. A significant share of the investments has been directed toward supporting private entrepreneurship. Over the past six years, Uzbekistan has been the largest recipient of EBRD financing in Central Asia, reflecting the bank’s growing confidence in the potential of the Uzbek economy.