Tashkent, Uzbekistan (UzDaily.com) -- On 10–12 May 2022, the traditional annual meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) 2022 was held in Morocco. Within its framework, an international business forum was organized for business circles of the EBRD member countries.

The session was dedicated to the topic “Responding to the challenges in today’s turbulent world” and provided an opportunity for representatives of the EBRD member countries to discuss global issues such as supporting economic growth, combating climate change and improving the business environment in the regions in which the EBRD invests.

As part of this event, an awards ceremony was also held for the best partner banks of the EBRD over the past year. In it, Uzpromstroybank for the second time received an award in the nomination "The best project in the field of green financing" (Deal of the Year - Green Trade).

This award is recognition by the international financial community of the work to stimulate representatives of the banking system to attract green investments, carried out within the framework of the Strategy for the transition of the country to a green economy in 2019-2030 approved by the head of our state.

To fully comply with the priorities identified in this Strategy, positioning of the Bank as the first bank in the Central Asian region, with potential opportunities for the development of green finance in the process of transformation, was initiated jointly with the IFC.

In particular, the Green banking department was created within the structure of the Bank. Together with IFC experts, a plan of measures was drawn up to develop a system for managing environmental and social risks, and a mechanism for its implementation was approved.

At the same time, a study of the “green market” was conducted with IFC specialists. Based on the studies, green financial products have been developed for clients of corporate and retail businesses, small and medium-sized businesses.

Based on experts’ recommendations, the Bank began using the CAFI program to evaluate green projects. In total, 121 projects were financed through the program.

In addition, Uzpromstroybank works closely with the World Bank, the European Bank for Reconstruction and Development and the European Investment Bank in the framework of energy efficiency programs and renewable energy projects.

In this direction, the EBRD is assisting the Bank in establishing the first Green Bank in Central Asia. In 2021, a credit line in the amount of US$25 million was allocated as part of the GEFF - Green Economy Financing Facility program.

In general, the active work carried out by Uzpromstroybank in supporting the green economy, financing green projects is especially noted not only by the government of the country, but also by the world community.

A striking example of this is that last year the Bank was also recognized as the “Best Green Investment Bank in 2021” within the framework of the annual Green Finance Awards held by the Green Finance Center of the Astana International Financial Center.