In Uzbekistan pilot project of the GEFF (Green Economy Financing Facility) provides funding, consultation and grants to private companies in order to improve their competitiveness through high-performance technologies and practices.
A green economy is an economy that minimizes use of energy and water in manufacturing and consumption, thereby minimizing negative impacts on environment and climate.
The GEFF is supporting this transition process by providing financing for investments in Green Technologies, i.e .:
• Technologies that minimize energy use
• Technologies that generate energy from renewable sources
• Technologies that protect water resources
In accordance with the GEFF agreement, the EBRD provides loans to participating local financial institutions (partner banks) for refinancing private borrowers. These funds are being invested in projects that minimize the impact on climate, in line with the EBRD's global strategy to transition to a green economy, reducing greenhouse gas emissions and improving energy efficiency.
The GEFF in Uzbekistan will be supported by a dedicated team of consultants among engineers, environmental, finance and marketing experts, who will offer partner banks and their customers direct support and advice throughout the life cycle of a green project with utilizing best-in-class technologies. The customer support package is free of charge.
Technical assistance is provided by a local GEFF team, that assists companies at various stages of project development, investment appraisal and project implementation. This helps to identify the best solutions and ensure successful financing of quality green economy projects.
In turn, Bank “Ipak Yuli” received from the EBRD a credit line of 5 million US Dollars for financing of private companies in field of green economy.