The European Bank for Reconstruction and Development (EBRD) is extending a financing facility of up to $50mn (€43mn) to Ipak Yuli Bank to support micro, small, and medium-sized enterprises (MSMEs) in Uzbekistan and broaden access to green finance.
The initiative comprises two key components aimed at accelerating Uzbekistan’s green transition while strengthening its MSME sector.
Under the Uzbekistan Green Economy Financing Facility II (GEFF II Uzbekistan), the EBRD will provide a $15mn (€12.9mn) loan in synthetic Uzbek sum. The funding will enable Ipak Yuli Bank to expand energy-efficiency lending to companies and households nationwide, allowing them to modernise production, improve energy efficiency, and enhance climate resilience.
This portion of the loan will be supported by concessional co-financing from the High-Impact Partnership on Climate Action (HIPCA), whose donors include Austria, Canada, Finland, Germany, the Netherlands, Norway, South Korea, Spain, Switzerland, the TaiwanICDF, the United Kingdom, and the United States.
The remaining $35mn (€30.1mn), also in synthetic local currency, will be used to support MSMEs across Uzbekistan, bolstering the backbone of the country’s economy and creating employment opportunities.
The EBRD has invested more than $6.5bn in Uzbekistan through 193 projects to date, with the majority of funds directed toward private entrepreneurship and initiatives supporting the country’s broader economic development.
