EBRD to allocate up to US$30 million for green financing of SMEs in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) — The European Bank for Reconstruction and Development (EBRD) is providing a new financing package to support micro, small, and medium-sized enterprises (SMEs) in Uzbekistan, aimed at expanding access to “green” loans and promoting environmental innovations. The funds are being allocated under the GEFF II Uzbekistan program (Green Economy Financing Facility – Phase II).

An EBRD loan of up to US$30 million (25.7 million euros) will be granted to Hamkorbank JSC, which will direct the funds toward expanding lending for energy efficiency projects. Beneficiaries will include companies and households across the country, enabling them to modernize production, implement energy-efficient solutions, and enhance resilience to climate change.

The program will be supported through concessional co-financing from the High Impact Partnership for Climate Action (HIPCA). Donors to HIPCA include Austria, Canada, Finland, Germany, the Netherlands, Norway, South Korea, Spain, Switzerland, the Taiwan International Cooperation and Development Fund (TaiwanICDF), the United Kingdom, and the United States.

GEFF II Uzbekistan serves as a key instrument for promoting environmentally oriented investments, improving energy efficiency, and advancing sustainable development within the country’s business sector.

According to the EBRD, the bank has already invested over US$6.6 billion in Uzbekistan across 196 projects, with the majority of funds directed toward supporting the private sector and strengthening the entrepreneurial environment. The bank emphasizes that these initiatives contribute to accelerating the country’s economic development and creating a sustainable infrastructure for “green” growth.