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About IFIs and IFFOs:

The European Bank for Reconstruction and Development (EBRD) was established in 1991 to assist the countries of Central and Eastern Europe and the CIS in establishing a market economy after the collapse of administrative-command system.

Website: www.ebrd.com 

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Headquarters are located in London (United Kingdom). Members of the EBRD are 69 members (67 countries, the European Union and the European Investment Bank). In the early 1990s, the Bank had to repeatedly prove the correctness of its orientation towards the private sector as the main driving force of reforms in Central and Eastern Europe. It was during this period that the EBRD was established as an expert in issues of transition to an open market.

The Bank actively participates in such activities as reforming banking systems, price liberalization, privatization (legalization and policy dialogue) and formation of an appropriate normative-legal framework for property rights, i.e. in all vital components of transformations.

Cooperation with the Republic of Uzbekistan:

Uzbekistan has been a member of the European Bank for Reconstruction and Development (EBRD) since April 30, 1992. As a shareholder, the Republic owns EBRD shares in the amount of € 44.1 million.

The EBRD office in Tashkent was opened in May 1993.

Reference: at the end of July 2005 the Bank announced the suspension of financing projects, enterprises and programs in Uzbekistan related to the public sector, due to “the lack of progress in political life of the country, as well as violations of human rights”.

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The EBRD decision was made after the events in Andijan in May 2005 and on the day when Uzbekistan demanded to withdraw the American base “Karshi – Khanabad” from the country.

In March 2017, a Memorandum of Understanding was signed between Uzbekistan and the EBRD, which serves as an intermediary framework document for implementation of projects in the country by raising funds from the Bank (the adoption of a new EBRD Strategy for Uzbekistan for the medium term is expected later).

From November 2017 the EBRD office officially resumed its activities. Activities of the bank in the republic are coordinated by the head of the representative office Alkis Drakinos.

Head of the EBRD from the Republic of Uzbekistan is Deputy Prime Minister of the Republic of Uzbekistan, Head of the Complex for Investment, Innovative Development, Coordination of Free Economic Zones, Tourism Activities S.R.Kholmuradov, Deputy Director, Chairman of the State Investment Committee of the Republic of Uzbekistan A.I.Akhmedkhadjayev.

According to the Resolution of the President of the Republic of Uzbekistan RP No. 3439 “On measures of further improving the efficiency of cooperation with international and foreign financial institutions” of December 20, 2017, the functions of the Office of the Director in the EBRD are assigned to the State Investment Committee.

The Bank launched the first project in Uzbekistan on November 23, 1993 (the first credit line for supporting small and medium-sized businesses in the amount of $ 60 million).