On 29 October 2026, the European Bank for Reconstruction and Development (EBRD) held an event in Tashkent dedicated to the results of the Green Economy Financing Facility (GEFF) programme in Uzbekistan and the launch of a new phase of green financing.

The event included the GEFF II Award Ceremony, where Ipak Yuli Bank was recognised for its systematic contribution to the development of green finance. Individual awards were also presented to the Bank’s employees.

Over USD 46 Million in Financing Secured

Since 2019, Ipak Yuli Bank has secured USD 46 million under the EBRD’s Green Economy Financing Facility (GEFF) to support energy-efficient and environmentally sustainable projects.

Over the course of the programme, the Bank has financed more than 300 projects with a total value of USD 40 million.

The programme’s current portfolio stands at USD 33 million and comprises 276 projects.

The financed projects are estimated to reduce CO₂ emissions by 16,936 tonnes annually.

These results reflect the Bank’s contribution to improving business energy efficiency, promoting the responsible use of resources and advancing environmentally sustainable technologies in Uzbekistan.

From Solar Energy to Equipment Modernisation

GEFF financing covers a wide range of technologies and solutions designed to improve business efficiency.

Supported areas include commercial passenger transport, refrigeration and production equipment, solar photovoltaic systems and modern diagnostic technologies.

In particular, Ipak Yuli Bank has supported 57 solar photovoltaic installation projects. Financing has also been provided for energy-efficient medical equipment, including an MRI scanner and an X-ray machine.

Through these initiatives, the programme helps businesses upgrade their equipment, reduce resource consumption and improve operational efficiency.

Supporting Women’s Entrepreneurship

Another important area of cooperation is expanding women entrepreneurs’ access to financing for environmentally friendly and energy-efficient projects. Under the GEFF programme, 30 women-led businesses have received financial support, contributing to the growth of women’s entrepreneurship and the adoption of modern green technologies.

One example is the café operated by Kamron Baraka LLC at Urikzor Market in Tashkent, founded by Mukambar Usmonova. Frequent power outages had disrupted the café’s operations and put food supplies at risk. With a GEFF green loan from Ipak Yuli Bank, the entrepreneur installed a 40 kW solar power system.

This investment has helped ensure the café’s uninterrupted operation, maintain product quality and strengthen business resilience. The solar system also generates annual energy savings of 668 GJ and reduces CO₂ emissions by 27.6 tonnes.

Watch the video to learn more about Mukambar Usmonova’s story.

Recognising the Contribution of the Ipak Yuli Bank Team

At the GEFF II Award Ceremony, Ipak Yuli Bank was recognised for its systematic contribution to the development of green finance. Individual awards were also presented to the Bank’s employees.

The recognised award categories and recipients included:

• Best Practice in Green Vendor Finance — Umidjon Khakimov;
• GEFF Green Champion — Ravshan Yuldashev;
• GEFF Green Deal Maker – Vendor Finance — Sardorbek Boydadaev.

This recognition highlights the importance of the team’s professional expertise in advancing green finance and supporting environmentally sustainable projects.

Financing and Technical Expertise

An important feature of GEFF is its combination of loan financing and technical support.

Programme specialists help assess whether investment projects meet energy efficiency and resource conservation criteria. Ipak Yuli Bank employees have also completed the necessary training to work with the programme.

This approach enables businesses not only to access financing but also to receive expert support when selecting technologies and implementing investment projects.

A New Phase in the Development of Green Finance

Another key highlight of the event was the introduction of a new phase of climate financing in Uzbekistan — the Greening Financial Systems (GFS) programme.

With a total volume of USD 250 million, the programme aims to expand access to green investment for small and medium-sized enterprises and households, while strengthening the financial system’s resilience to climate change.

The programme combines concessional financing and technical assistance to support environmental initiatives, climate adaptation and the adoption of energy-efficient solutions.

Through its continued cooperation with international partners, Ipak Yuli Bank supports businesses in modernising their operations, adopting advanced technologies and using resources more efficiently.

Ipak Yuli Bank — Think Big