JSCB "Uzpromstroybank" issued $100 million Eurobonds through private placement to finance climate-related projects.

"On August 4, 2023, Uzpromstroybank completed a private placement of five-year Eurobond with use of proceeds directed towards eligible climate-related projects for a total amount of $100 million.

The investors were the International Finance Corporation (IFC), the Austrian Development Bank (OeEB), the Asian Infrastructure Investment Bank (AIIB)* and the German development finance institution DEG. The organizer of this transaction was the Société Generale.

This placement was carried out in accordance with the Decree of the President of the Republic of Uzbekistan No. PP-253 dated July 31, 2023, aimed at strengthening financial stability and accelerating the privatization of Uzpromstroybank.

The raised funds will be used to finance green projects, specifically those related to energy efficiency, greenhouse gas emissions reduction, green building, renewable energy, water conservation, as well as projects developed by small and medium enterprises (SME) and women-owned SMEs. Further improvements of the environmental and social management system of Uzpromstroybank are an integral part of the transaction and will be implemented with support of the investors and external advisors.

This placement of Eurobonds is the second in the history of the Bank. In 2019, Uzpromstroybank became the first in the history of Uzbekistan to enter the international debt market by placing corporate Eurobonds worth $300 million on the London Stock Exchange.

*The Asian Infrastructure Investment Bank is one of the SQB bond subscribers, so the Project-affected People‘s Mechanism (PPM) of the Asian Infrastructure Investment Bank is also applicable. If the negative environmental and social impacts on your community caused by the projects involved in the Bond cannot be satisfactorily solved through SQB or the management mechanism of the Asian Infrastructure Investment Bank, you are welcome to contact the Project-affected People‘s Mechanism of the Asian Investment Bank. Relevant English information can be obtained by visiting the following link:

https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/i...

For more information about IFC, please, visit: www.ifc.org

For more information, about DEG, please, visit: www.deginvest.de

For more information about OeEB please, visit: www.oe-eb.at

For more information about AIIB, please, visit: www.aiib.org

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