The European Bank for Reconstruction and Development (EBRD) is expanding its Green Economy Financing Facility (GEFF), launched in Uzbekistan in 2019, to support green finance for small private-sector companies investing in green technology solutions.

Uzbekistan’s second-largest lender Uzpromstroybank (UzPSB) is the second financial institution in the country to join the facility. It is supported by grants provided by the Austrian Federal Ministry of Finance and the TaiwanBusiness-EBRD Technical Cooperation Fund. Designated consultants will help UzPSB develop a portfolio of GEFF projects and will work with individual borrowers to assist with their green transformation.

UzPSB will receive an EBRD loan of up to US$ 25 million for on-lending to domestic small and medium-sized enterprises (SMEs) willing to invest in climate mitigation and adaptation technologies and services. With a network of 45 branches and 170 outlets across Uzbekistan, UzPSB is well placed to support SMEs across the country, including in small villages and remote rural areas.