A delegation of the European Investment Bank headed by the Vice-President of the Bank Vasil Hudak visited Uzbekistan in late May 2017.

Representatives of the Central Bank and the EIB discussed the prospects for bilateral cooperation, including allocation of credit lines to commercial banks for financing small business and entrepreneurship projects.

During the talks, prospects and investment potential of cooperation between Uzbekistan and the EIB were also discussed.

It was noted that Uzbekistan and the EIB are planning to sign a framework agreement in July 2017. The document will determine the conditions of the EIB operations in Uzbekistan.

According to the Central Bank, Uzbekistan is interested in using the funds of the European Investment Bank for development of alternative, renewable energy sources, increasing energy efficiency and technology transfer.

At present, special prospects are opening for joint implementation of projects in the field of modernization of the fuel and energy sector, introduction of energy-saving technologies and alternative energy.

The EIB intends to share its experience in various fields: developing agriculture using new technologies, supporting and strengthening the competitiveness of the industrial sector of Uzbekistan, developing the country’s infrastructure and other areas.