The Asian Infrastructure Investment Bank (AIIB) has invested $25mn in Uzpromstroybank's (Uzbek Industrial and Construction Bank) $100mn, five-year sustainable Eurobond private placement.
The raised funds will be allocated towards financing green projects such as increasing energy efficiency, reducing greenhouse gas emissions, promoting sustainable construction, ensuring water security, and financing small and medium-sized enterprises and women-led initiatives.
.jpg)
This issuance marks Uzpromstroybank's first Sustainable Bond and is aligned with the Green and Social Bond Principles of the International Capital Market Association.
AIIB invested alongside the International Finance Corporation, German Investment and Development Corporation, and Austrian Development Bank.
In 2019, Uzpromstroybank made history by becoming the first bank in Uzbekistan to enter the international capital markets. They achieved this milestone by placing a $300mn Eurobond on the prestigious London Stock Exchange, with the August 2023 placement being their second on an international exchange.
Uzbekistan has received significant investments from the Asian Infrastructure Investment Bank (AIIB), amounting to more than $2.4bn for 13 projects. The investments cover various industries, including energy, infrastructure development, transportation, and medicine. AIIB has allocated $394mn to support the development of solar fields in Samarkand, Jizzakh, and Surkhandarya, which will be carried out by Abu Dhabi Future Energy Company (Masdar). Apart from these, there are numerous other projects in the Bukhara region, such as water supply and sewerage, road network improvement, and railway infrastructure development.
Follow Daryo's official Instagram and Threads pages to keep up to date on world news.
Comments (0)