Uzbekistan’s Minister of Transport Ilkhom Makhkamov and Head of European Bank for Reconstruction and Development (EBRD) in Uzbekistan Andi Aranitasi discussed transport infrastructure projects, Trend reports.
In the meeting, the parties took stock of the ongoing investment projects with the EBRD focused on enhancing the country’s transport infrastructure and looked into opportunities for future collaboration.
In particular, conversations revolved around the initial and subsequent stages of acquiring electric buses in Samarkand to boost the proportion of eco-friendly public transport, along with the purchase of electric buses for Namangan and Nukus.
Additionally, the reconstruction of the 4R156 highway (0-84 kilometres) connecting Urgench, Khanka, Khazarasp, Tashsoka, Amudarya, and the A380 highway was addressed. The parties also discussed cooperation in the digitalization of Uzbekistan Railways.
Following the meeting, both parties reached a consensus to expedite collaborative initiatives for the execution of these projects.
To note, the current loan portfolio of the EBRD projects in Uzbekistan has totaled 3 billion euros as of November 30, 2024.
The European Bank for Reconstruction and Development (EBRD) is facilitating green and inclusive lending in Uzbekistan by providing a funding package of up to US$ 20 million (€ 18.46 million) to Ipoteka Bank, the country's principal private lender, which is managed by the OTP Group of Hungary. Uzbekistan has been the foremost receiver of EBRD money in Central Asia for four consecutive years. Thus far, the Bank has allocated around €4.28 billion to 147 projects nationwide, predominantly financing private entrepreneurship.
