The Board of Directors of the European Bank for Reconstruction and Development (EBRD) approved the first two projects for financing in Uzbekistan yesterday.
In particular, the EBRD will open a US$100 million credit line for the National Bank of Uzbekistan for Foreign Economic Activity (NBU).
NBU will use US$70 million to finance projects of SMES and US$30 million to support trade finance.
The purpose of this loan is to improve medium-term financing for SMEs, especially in Uzbekistan’s provinces.
Agromir Juice, a manufacturer of juices, juice concentrates, vegetable pastes and other products, will get US$10 million of EBRD loan to build a modern warehouse complex in Samarkand province.
Uzbekistan and the EBRD are expected to sign loan agreements for these projects in early November as part of the visit of First Vice President of the EBRD Philip Bennet to Uzbekistan.