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EIB may open regional office in Uzbekistan

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Baku, Azerbaijan, Nov. 26

By Fikret Dolukhanov – Trend:

The European Investment Bank (EIB) may open a regional office in Uzbekistan, Uzbek media reported referring to a meeting of Deputy Prime Minister, Chairman of the State Investment Committee of Uzbekistan Sukhrob Kholmuradov with EIB Vice-President Vazil Hudák.

During the negotiations, the EIB proposed to open a regional office of the bank in Uzbekistan.

Hudák noted that the EIB is ready to cooperate with Uzbekistan in other areas, including environmental protection, support for small and medium-sized businesses and the social sector.

He reminded that the parties are currently working on two projects – to improve energy efficiency and water supply.

The energy efficiency project aims to ensure that both private and state-owned companies can take measures to reduce electricity costs as part of their production, their activities, as well as in public institutions. The EIB will allocate 100 million euros for the project. The project will be implemented jointly with the World Bank.

The project to improve water supply, where the partner is the Ministry of Housing and Communal Services of Uzbekistan, covers introduction of new technologies in water management and water supply. The EIB will allocate 100 million euros for this project.

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