Tashkent, Uzbekistan (UzDaily.com) -- The European Bank for Reconstruction and Development (EBRD) and the Asian Development Bank (ADB) will take part in the privatization of Uzpromstroybank.

The government of Uzbekistan has agreed to involve these international financial institutions in the privatization process of JSCB "Uzpromstroybank".

The government also approved a 41-point roadmap for the privatization of Uzpromstroybank by the end of 2023.

It should be reminded that earlier the Government attracted the International Finance Corporation (IFC) in the process of privatization of JSCB "Uzpromstroybank".

In September, the IFC and JSCB Uzpromstroybank signed a package of agreements on the allocation of a loan to an Uzbek bank in the amount of US$75 million with the possibility of converting the corporation’s funds into bank shares.

In June 2021, agreements were reached between the Ministry of Finance of Uzbekistan, JSCB Uzpromstroybank and the EBRD, providing for the EBRD’s participation in the pre-privatization transformation of JSCB Uzpromstroybank by providing a credit line for US$50 million.