AKIPRESS.COM - EBRD provides a local currency loan of up to €8.55 million equivalent to Joint Venture Healthline LLC (Healthline), a local manufacturer and trader of disposable medical goods – including disposable syringes, intravenous sets and dialysis filters that will be used to expand the company’s product range and to establish a new production facility for manufacturing disposable medical gloves.
This is the first EBRD local currency loan to a private sector client in Uzbekistan and will help Healthline to strengthen its market position in the domestic medical manufacturing sector.
The loan is supported by a grant of US$ 67,360 from the EBRD’s Finance and Technology Transfer Centre for Climate Change (FINTECC) programme, which is co-financed by the Global Environment Facility Trust Fund. The grant will cover costs associated with the introduction of new-technology natural gas burners featuring heat recovery systems. The new burners will enable the company to reduce its annual consumption of natural gas by 40 per cent and to cut its annual greenhouse gas emissions by 6,460 tonnes of CO2 equivalent. FINTECC is designed to transfer technology in the area of climate change mitigation and adaptation.
To date, the EBRD has invested €1.6 billion through 73 projects in the economy of Uzbekistan. Support for small businesses is particularly important as the country moves to reform its economy and strengthen its private sector.