EBRD breaks investment records in Uzbekistan with €938 million in 2024

In 2024, the EBRD and the Uzbek government signed 34 agreements totaling €938 million ($960 million), making this the highest investment figure in Central Asia. Additionally, the bank facilitated €383 million in co-financing from other organizations.

Approximately 55% of the bank’s investments were directed toward green economy initiatives, including renewable energy, as well as projects in chemical and other industries.

Key projects funded by the EBRD in Uzbekistan:

1. Solar power plant and battery system
2. A $226 million A/B loan was allocated for the construction of a 200 MW solar power plant and a 501 MWh energy storage system in Tashkent region.
3. The battery complex is among the largest such projects funded in the bank’s operational countries.
4. High-voltage power lines
5. $66.4 million was provided for building 230 kilometers of high-voltage transmission lines in Navoi region.
6. Green hydrogen production
7. $65 million was allocated to finance a "green" hydrogen production project in Chirchik, a joint initiative by UzKimyoSanoat and ACWA Power.
8. Road infrastructure
9. A sovereign loan of $238 million was granted for reconstructing the highway between Urgench and the A380 trunk road, including the construction of a new bridge over the Amu Darya River.

The EBRD contributed over €300 million in loans and trade finance limits to Uzbekistan's financial sector. TBC Uzbekistan, a digital bank, received additional investments and loans to support small businesses.

Through its advisory program for small businesses, the EBRD launched 60 consulting projects in Uzbekistan's regions, half of which targeted women-led enterprises. These initiatives engaged 80,000 entrepreneurs.