lThe European Bank for Reconstruction and Development (EBRD) is providing financing of up to US$15.4 million to Uzbekistan’s leading brewer, UzCarlsberg, to support the company’s expansion and strengthen sustainability in the country’s food sector. The investment marks the EBRD’s third equity investment in Uzbekistan since 2020 and reflects the bank’s continued focus on supporting private-sector growth and more sustainable industrial development in the country.
UzCarlsberg, which has been an EBRD client since 2022, will use the financing to expand its production capacity through the construction and commissioning of a new brewing facility next to its existing production site. The funds will also support the purchase of advanced brewing and bottling equipment, as well as the expansion of the company’s warehouse infrastructure. These upgrades are intended to help the company scale operations more efficiently while strengthening its long-term competitiveness in Uzbekistan’s beverage market.
Beyond expanding output, the project is also designed to improve the sustainability of UzCarlsberg’s operations. According to the EBRD, the investment will help the company achieve water and energy savings, making its production processes more resource-efficient. This aligns with the bank’s broader objective of encouraging businesses in the agrifood sector to adopt greener technologies and more climate-resilient production methods.
To further support the sustainability component of the project, the investment will be complemented by up to €200,000 in blended concessional finance under the EBRD’s Agrifood Nexus programme. This grant funding is financed by the German Federal Ministry for the Environment, Climate Action, Nature Conservation and Nuclear Safety. It will help UzCarlsberg purchase sustainable technologies and reduce the risks associated with implementing advanced climate adaptation measures, making it easier for the company to integrate environmentally responsible solutions into its expansion.
The transaction also highlights the EBRD’s growing role in Uzbekistan’s economic development. To date, the bank has invested nearly US$6.9 billion, or €5.9 billion, across 208 projects in the country, with most of that financing directed toward private entrepreneurship. Uzbekistan has remained the leading recipient of EBRD funding in Central Asia for each of the past six years, underlining its importance as a key market for investment aimed at boosting private-sector growth, industrial modernization, and sustainable development.
