TASHKENT, Uzbekistan, January 2. The European Bank for Reconstruction and Development (EBRD) plans to acquire a 15% stake in Uzbekistan’s state-owned Asakabank as part of its preparation for privatization, Trend reports via the country’s Ministry of Economy and Finance.
According to the ministry, an agreement outlining the key commercial terms of Asakabank’s privatization was signed by the Ministry of Economy and Finance on behalf of the Uzbek government, the EBRD, and Asakabank, aimed at strengthening institutional cooperation.
Subject to the full completion of agreed conditions, including transactional, regulatory, and corporate legal requirements, the EBRD plans to enter Asakabank’s shareholder structure in 2026.
Earlier, EBRD approved a loan of up to $30 million for Uzbekistan's Hamkorbank to support the expansion of green financing in Uzbekistan.
The financing is being provided under the Uzbekistan Green Economy Financing Facility II (GEFF II Uzbekistan) and is aimed at improving access to green finance for micro-, small-, and medium-sized enterprises (MSMEs), as well as households, while promoting green innovation across the country.
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