EBRD and Hamkorbank help set up new production line in Samarkand
By Trend
Dairy products producers will have a greater variety of packaging at their disposal following the installation of a modern production line by Midas Plastics financed by the EBRD and Hamkorbank, Trend reports.
The company is a new producer based in Samarkand, the second-largest city in the country. In a joint transaction with the EBRD, Hamkorbank is providing a loan of up to €2.92 million to Midas Plastics, while 60 per cent of the risk on the loan will be shared by the EBRD under a Risk Sharing Facility signed between the financial institutions.
The loan is supported by the EBRD’s Finance and Technology
Transfer Centre for Climate Change (FINTECC) programme designed to
transfer technology in the area of climate change mitigation and
adaptation and financed by the Global Environment Facility Trust
Fund. A grant of US$ 204,000 will finance the introduction of
sustainable packaging technologies, which will help extend the
shelf life of dairy products and reduce the amount of commercial
waste.
Midas Plastics will also be able to produce lighter plastic
packaging of at least 25 per cent of which will consist of recycled
plastic.
To date, the EBRD has invested €1.92 billion through 85 projects in the economy of Uzbekistan. Support of small businesses is particularly important as the country moves to reform its economy and strengthen its private sector.
--
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!