On November 8, the European Bank for Reconstruction and Development has opened its representative office in Uzbekistan.

The ceremony, organized within the framework of the visit to our country of the delegation led by the First Vice President of the European Bank for Reconstruction and Development Philip Bennett, was attended by the heads of ministries and departments, representatives of diplomatic corps, specialists of the sphere. 

During the visit of the President of the EBRD Suma Chakrabarti to our country in March this year, a Memorandum of Understanding between Uzbekistan and the European Bank for Reconstruction and Development was signed. The Bank’s work in Uzbekistan focuses in the short term on advice and financing for small and medium-sized enterprises, tasks on increasing the competitiveness of the economy of Uzbekistan by attracting foreign direct investment, enabling the development of cross-border trade and cooperation, ensuring the exchange of technologies and know-how. 

During the years of cooperation with the European Bank for Reconstruction and Development, more than 500 million dollars have been attracted to various sectors of the economy of our country, as a result of which 54 projects have been implemented. 

Within the framework of the event, five documents worth about 215 million US dollars were signed on development of the water and heat supply system in Namangan and Khorezm regions and Tashkent. These projects will improve the health and living conditions of the population.