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Uzbek President Shavkat Mirziyoyev's visit to Paris on 21 and 22 November led to the signature of four structuring agreements that will strengthen AFD's activities and financing to support Uzbekistan's economic, social and environmental development.
In order to deepen its already well-established relations, the presidential visit was an opportunity to sign four agreements that will strengthen AFD's operations:
- A partnership agreement for the period 2023-25, which covers the main priorities for Uzbekistan's future financing, was signed following a bilateral meeting between the President of the Republic of Uzbekistan and AFD Director General Rémy Rioux. In the next three years, AFD could notably provide financing for additional projects in the water and energy sectors. The partnership on the green economy, which aims to support the implementation of economic and financial tools to encourage the greening of the Uzbek economy, will be continued. AFD will also work on the Aral Sea region to finance the investments needed for its environmental resilience.
- A €30M loan agreement with the public bank SQB to finance climate-friendly investments. This is AFD's first loan in Uzbekistan to an entity other than the Uzbek State. It marks a new level of maturity in AFD's relationship with Uzbekistan. The 2023-25 partnership agreement envisages the implementation of other similar financing in the coming years.
- A Memorandum of Understanding (MoU) with the local public company Uzsuvtaminot on developing access to drinking water in the regions. AFD's Board of Directors authorized a €160.9M to finance drinking water infrastructure in the Tashkent and Fergana regions. AFD and Uzsuftaminot are also working to finalize the appraisal of an equivalent project for the Kashkadarya region.
- An MoU on financing irrigation studies. AFD will provide €1.5M in grant resources to carry out studies for the modernization of the irrigation system in the Aral Sea, particularly in Karakalpakstan.
AFD has been operating in Uzbekistan since 2016 where it finances public investments in the water and sanitation, solid waste, energy and livestock sectors. It also supports the Uzbek government in the implementation of its Green Economy strategy. Since 2016, it has signed over €800M in sovereign loans with Uzbekistan including €255M in 2022. AFD's financing mainly targets the environment and climate.
Press contact : AFD - Irodakhon Abdul-Kodirova | +998909580021