UZBEK LOANS
April 1st, 2004
BY KEITH NUTHALL
THE FUTURE provision of European Bank for Reconstruction and Development (EBRD) loans to large textile product producers in Uzbekistan is in doubt, following a decision to concentrate future funding on private sector initiatives. Publicly owned textile businesses in the country's state-dominated economy would only get money for cross-border initiatives involving neighbouring countries. The bank and OPEC last year lent US$18 million to finance a Turkish-owned textile plant in Uzbekistan.
THE FUTURE provision of European Bank for Reconstruction and Development (EBRD) loans to large textile product producers in Uzbekistan is in doubt, following a decision to concentrate future funding on private sector initiatives. Publicly owned textile businesses in the country's state-dominated economy would only get money for cross-border initiatives involving neighbouring countries. The bank and OPEC last year lent US$18 million to finance a Turkish-owned textile plant in Uzbekistan.
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