Agency For The Development Of Light Industry Under The Cabinet Of Ministers Of The Republic Of Uzbekistan

On April 29 of the current year, a meeting was held at the Agency for the Development of Light Industry under the Cabinet of Ministers of the Republic of Uzbekistan, attended by the Director of the Agency, Nozimjon Kholmurodov, and the Director of the Representative Office of the Eurasian Development Bank in Uzbekistan, Aleksey Rogachevskiy.

During the meeting, the parties discussed issues related to the further development of the light industry sector, expanding opportunities for financing investment projects of enterprises, and strengthening international cooperation.

In particular, the negotiations considered establishing close cooperation with the Bank to attract low-interest loans and Islamic finance instruments for projects in the sector.

The parties also exchanged views on the establishment of laboratories and competence centers, as well as the allocation of technical assistance funds to support women and youth, who constitute the main workforce in the industry.

In addition, at the initial stage, it was agreed to select 15 projects with a value exceeding USD 10 million and to begin the process of their financing.

For reference: The Eurasian Development Bank is an international financial institution aimed at supporting economic growth in its member states. It finances projects in road construction, green energy, processing industries, mechanical engineering, infrastructure, and agriculture. The Bank provides financing both through local banks and directly, offering investment loans, trade finance, letters of credit guarantees, Islamic finance, and export credits to the private sector.

At the end of the meeting, the parties expressed their readiness to consistently develop mutually beneficial cooperation, jointly support promising projects, and achieve practical results.