The Board of Directors of the European Bank for Reconstruction and Development (EBRD) approved the first two projects for financing in Uzbekistan on 18 October 2017. In particular, the EBRD will open a credit line for US$100 million to the National Bank of Uzbekistan for Foreign Economic Activity (NBU).
NBU will direct US$70 million to finance projects of small and medium businesses and US$30 million to support trade finance. The purpose of this loan is to improve opportunities of medium-term financing of representatives of small and medium-sized businesses, including in the regions of the country.
Agromir Juice, which specializes in the production of juices, juice concentrates, vegetable pastes and other products, will get US$10 million of EBRD loan. Within the framework of the project, the Uzbek company intends to build a modern warehouse complex in Samarkand region. It will promote introduction of a unified management system and increase the company’s production efficiency. It is expected that Uzbekistan and the EBRD will sign loan agreements for these projects in early November within the visit of First Vice President of the EBRD Philip Bennet to Uzbekistan.
