EBRD provides $45m to Uzpromstroybank
The European Bank for Reconstruction and Development is expanding its Green Economy Financing Facility, launched in Uzbekistan in 2019, to support green finance for small private-sector companies investing in green technology solutions.
Uzbekistan’s second-largest lender Uzpromstroybank (UzPSB) is the second financial institution in the country to join the facility. It is supported by grants provided by the Austrian Federal Ministry of Finance and the TaiwanBusiness-EBRD Technical Cooperation Fund.
UzPSB will receive an EBRD loan of up to $25 million for on-lending to domestic SMEs willing to invest in climate mitigation and adaptation technologies and services.
Moreover, the EBRD will help UzPSB to further expand lending to the local private sector, by providing guarantees or participating in investment projects. It will also help to widen the product range, facilitate UzPSB’s commercialisation and build the capacity of its lending specialists by offering new financial resources of up to $20 million under a risk-sharing framework.
The GEFF is part of the EBRD’s commitment to scale up its climate and environmental finance under the Green Economy Transition approach, with the aim of becoming a majority green bank by 2025.
