BAKU, Azerbaijan, Oct. 12
By Fakhri Vakilov – Trend:
Local medical producer in Uzbekistan - Samarkand England Eco-Medical (SEEM) has received 7.8 million euros via a loan from Uzpromstroybank (UzPSB), Trend reports citing EBRD.
Half of the mentioned loan was provided by the European Bank for Reconstruction and Development (EBRD).
EBRD and Uzbekistan’s second-largest lender, UzPSB, are providing funds to support and strengthen local manufacturers of medicine in order to meet growing market demand during amid the spread of COVID-19.
SEEM, which manufactures intravenous fluids such as sodium chloride, glucose and amino acids, will use the loan to expand its production facility and to start manufacturing generic and specialized medicines in tablets and capsules.
The project is in line with the Bank’s strategy for Uzbekistan, aimed at enhancing the role of the private sector in the national economy. It will also help to reduce the reliance on foreign supplies in the country, where 75 per cent of medical goods are imported.
UzPSB operates a network of 45 branches and 170 outlets across the country.
To date, the EBRD has invested almost 2.6 billion euros in 101 projects in Uzbekistan.
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