Tashkent, Uzbekistan (UzDaily.com) -- JSCB Business Development Bank and the French Development Agency (AFD) signed a loan agreement in the amount of 30 million euros.

The document was signed on 2 November 2023 within the framework of the Uzbek-French business forum in Samarkand. The forum was held as part of the official visit of the President of the French Republic Emmanuel Macron to the Republic of Uzbekistan.

In accordance with the document, Business Development Bank and the AFD will develop cooperation on the development of women's entrepreneurship, renewable energy sources and energy efficiency.

The parties will also cooperate in training and retraining of specialists of the Business Development Bank.

Extensive cooperation between the French Development Agency and Uzbekistan was established during the official visit of President Shavkat Mirziyoyev to Paris in November 2022. As part of this visit, a strategic cooperation program until 2025 was signed between the Government of Uzbekistan and the French Development Agency.

According to the program, it is envisaged to implement joint projects in agriculture, energy, green economy, urban planning, water supply, banking and finance, and transport.

The French Development Agency (French: Agence française de développement, AFD) is a public financial institution that implements policies defined by the French government. The agency works to fight poverty and promote sustainable development. This government agency is active in Africa, Asia, the Middle East, Latin America, the Caribbean and the French overseas territories, where it funds and supports projects that improve people's lives, promote economic growth and protect the planet.

AFD has been active in Uzbekistan since 2015 and has supported the country in diversifying its economy and moving towards inclusive and sustainable development. In partnership with the Uzbek authorities, in particular, the agency is implementing projects to improve the quality of life in cities (waste management, water supply and sanitation), livestock development and sustainable energy production (hydropower, electricity development for a low-carbon economy).