Azernews.Az

By Kamila Aliyeva

The European Investment Bank (EIB) will provide Uzbekistan with financial resources for about $ 500 million, Vice President of the Bank Vasil Khudak said on May 21.

The bank will provide funds for 100 million euros to finance projects in the field of energy conservation and water supply in Uzbekistan.

Also, the EIB intends to invest 60 million euros in the construction of joint venture Uzbekistan Peugeot Citroen Automotive JV for the production of minibuses and commercial vehicles in the Jizzakh region.

Khudak noted that the funds for these projects will be directed through the framework loans. The signing of loans is expected to take place during the planned visit of the Uzbek President to Brussels this autumn.

During the visit, the EIB Vice-President held meetings with Uzbek Prime Minister Abdulla Aripov and other officials.

Khudak noted that the Government of Uzbekistan and the EIB are discussing specific projects. In the sphere of energy conservation, the bank plans to finance small and medium-sized enterprises working in the field of renewable energy sources, as well as projects that allow more efficient use of energy.

The parties also agreed to cooperate in the field of water management. The sides are discussing the possibility of participating in the development of urban infrastructure, the modernization of the local government sector, as well as the development of heating systems in the cities of Uzbekistan.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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