SQB and the French Development Agency sign a Technical Assistance Agreement

Uzbekistan Industrial and Construction Bank (SQB) and the French Development Agency signed a Technical Assistance Agreement for 400,000 euros.

The signing took place during the visit to Uzbekistan of the French Development Agency delegation.

During the official visit of President Shavkat Mirziyoyev to France, the Program of New Strategic Cooperation for 2025 was signed between the Government of Uzbekistan and the French Development Agency. In accordance with the document, the activities of the French Development Agency in Uzbekistan have expanded into several areas such as agriculture, energy, green economy, banking and finance, improving the conditions of the city (water supply, waste management and sewage system), transport. French Development Agency and SQB also signed a loan agreement for 30 million euros.

The Technical Assistance Agreement is a logical continuation, according to which the French Development Agency will provide technical assistance to the bank in the development of climate projects for four years. At the same time, measures are provided for the development of a feasibility study for the development of climate-related projects, as well as assessing the eligibility of projects, supporting technical and financial assessment, monitoring and implementing a credit line, assisting in the management of environmental and social risks, marketing and communication activities.

SQB became one of the first financial institutions in Central Asia to receive direct financing from the French Development Agency without a state guarantee. The borrowed funds from the French Development Agency will contribute to the bank’s activities in promoting and implementing green projects.

Source: Press Service of the President of the Republic of Uzbekistan