The Central Bank held a meeting with the delegation of the European Investment Bank (EIB) to discuss prospects of bilateral cooperation, including the allocation of credit lines to commercial banks for financing projects of small business and entrepreneurship.
EIB Vice-President Vazil Hudak headed the delegation.
The largest financial institution – the EIB adheres to the principles of “responsible lending”, which means providing funding only to those projects and borrowers that meet stringent environmental, social and other requirements of the EU, as well as “zero tolerance” against prohibited business practices.
The scope of funding covers projects in the energy sector, infrastructure, environmental protection and social sphere, as well as the development of entrepreneurship and innovation.
Uzbekistan is interested to use the funds of the EIB for the development of alternative, renewable energy sources, energy efficiency and technology transfer. The Bank intends to share its experiences in various fields: the development of agriculture with the use of new technologies, supporting and enhancing the competitiveness of the industrial sector of Uzbekistan, development of the country’s infrastructure and other areas.
In July of this year, the Bank plans to sign a Framework agreement with the government, which will determine the conditions of the EIB activity in the country.
During the talks, the sides discussed prospects and investment potential of Uzbekistan’s cooperation with the EIB.
Source: Jahon News Agency
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Ravshan Vafoev