Tashkent, Uzbekistan (UzDaily.com) – The European Bank for Reconstruction and Development (EBRD) opened its second office in Uzbekistan.

An office located in Andijan will support local small and medium-sized enterprises. The EBRD is expanding its regional presence in the most populous region of Central Asia by opening an office in Andijan. The EBRD explains its choice with the fact that the Ferghana Valley is the most densely populated part of Central Asia with almost 14 million inhabitants.

The office will mainly provide support to local small and medium enterprises (SMEs) through expert advice, training and various financial instruments.

After the adoption of a new country strategy for Uzbekistan in 2018, the EBRD signed 12 projects worth almost 400 million euros, which was a record level of bank business in the country in one year. Significant investments have been made in municipal and energy infrastructure, including the rehabilitation of water supply and sanitation infrastructure in the Ferghana Valley, as well as in banking and industrial activities. This year, the EBRD has already invested nearly 250 million euros in the country's economy.

The first office was reopened in Tashkent in 2017. The organization has been operating in Uzbekistan since 1993, but since 2010, bank operations in the country have been suspended.