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EBRD newsletter - Friday 04 June

EBRD President pays first visit to Morocco EBRD President Odile Renaud-Basso made her first official visit to Morocco in a virtual format on 24 and 25 May. She held high-level meetings with the Moroccan authorities, the business community and civil society. Meetings focused on Morocco’s post-Covid-19 recovery and EBRD investments to support it. In an interview with the newspaper Aujourd’Hui le Maroc, the EBRD President said: “The EBRD’s new strategic framework focuses on three main priorities, namely the strengthening of social cohesion and the reduction of regional disparities for an inclusive growth, the facilitation of a private sector led economy by improving competitiveness and supporting Morocco s governance reform programme as well as increasing the transition to the green economy through more sustainable energy and infrastructure.”

EBRD helps Indorama introduce advanced cotton farming technologies in Uzbekistan

EBRD helps Indorama introduce advanced cotton farming technologies in Uzbekistan EBRD helps Indorama introduce advanced cotton farming technologies in Uzbekistan Introduction of new farming technologies Parallel loan by IFC, support by FINTECC The European Bank for Reconstruction and Development (EBRD) is supporting the modernisation of agriculture and enhanced economic opportunities for the local population in Uzbekistan with a financing package of up to US$ 70 million to Indorama Agro (Indorama). The package will consist of a US$ 60 million capital expenditure loan and a US$ 10 million working capital loan in Uzbek sum equivalent. It will support the operations of Indorama, an established cotton industry player engaged in rotational crop farming, a systematic approach to selecting locations and cycles of crop planting.

EBRD and Hamkorbank help set up new production line in Samarkand

EBRD and Hamkorbank help set up new production line in Samarkand EBRD and Hamkorbank help set up new production line in Samarkand EBRD and Hamkorbank support Uzbek packaging producer Midas Plastics € GEF US$ 204,000 grant through the Bank’s FINTECC to finance sustainable packaging technologies Dairy products producers will have a greater variety of packaging at their disposal following the installation of a modern production line by Midas Plastics financed by the EBRD and Hamkorbank. The company is a new producer based in Samarkand, the second-largest city in the country. In a joint transaction with the EBRD, Hamkorbank is providing a loan of up to €2.92 million to Midas Plastics, while 60 per cent of the risk on the loan will be shared by the EBRD under a Risk Sharing Facility signed between the financial institutions.

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