Ipoteka bank OTP Group receives EBRD award for supporting green modernisation of businesses in Uzbekistan
The Bank has channelled USD 10 million to more than 30 businesses investing in energy-efficient technologies and modernising their operations over the past 18 months.
Ipoteka bank OTP Group has received the Ipoteka bank Excellence in Green Finance for Industrial Modernization award at the Uzbekistan GEFF Greening Financial Systems Launch and GEFF Awards Ceremony, organised by the European Bank for Reconstruction and Development (EBRD) in Tashkent.
The award recognises the bank’s achievements under the GEFF II programme, which aims to expand access to green financing for businesses in Uzbekistan. Over the past 18 months, the bank has fully utilised its USD 10 million credit line, providing financing to more than 30 businesses.
The programme supported companies operating in the industrial, trade and services sectors across Tashkent, Tashkent Region, Navoi Region and Kashkadarya Region. Financing was primarily directed towards the acquisition of energy-efficient equipment and electric vehicles, helping businesses upgrade their technologies and reduce their environmental footprint.
According to GEFF programme estimates, the projects financed are expected to generate annual primary energy savings of 129,950 GJ and reduce CO₂ emissions by 9,382 tonnes per year.
One notable example is a USD 2 million project in the pharmaceutical sector involving the introduction of energy-efficient refrigeration technologies for storing blood plasma used in the production of essential medicines.
The project is expected to deliver annual energy savings of approximately 3,497 GJ and reduce CO₂ emissions by around 145 tonnes.
“This award recognises Ipoteka bank OTP Group’s achievements in advancing green finance. Through our partnership with the EBRD, we have helped businesses in Uzbekistan invest in energy-efficient technologies that reduce operating costs, improve operational efficiency and strengthen business competitiveness. We remain committed to expanding access to green financing and supporting the technological modernisation and sustainable growth of businesses across the country,” said Jonon Jalalova, Head of the Business and Product Development Directorate and Global Transaction Banking at Ipoteka bank OTP Group.
The award highlights the results of cooperation between Ipoteka bank OTP Group and the EBRD in promoting energy-efficient technologies. The bank will continue to develop its green lending activities and support investment projects that modernise businesses and contribute to the resilience of Uzbekistan’s economy.
About GEFF II: The Green Economy Financing Facility II (GEFF II) is an EBRD programme that provides financing for green technologies and supports improvements in energy efficiency.
