EBRD Fuels Uzbekistan’s Green Energy Drive with $17.5M Loan to Techno Cable Group

The European Bank for Reconstruction and Development (EBRD) is intensifying its support for Uzbekistan’s green energy infrastructure and national decarbonization ambitions by extending a $17.5 million loan to Techno Cable Group (TCG), a major manufacturer of copper and aluminum electrical cables used in power and renewable energy sectors.

TCG, which produces over 3,000 types of cables with various PVC insulation, will use the funds to expand production capacity and finance working capital, The Caspian Post informs via Uzbek media.

The investment will enable the company to increase copper wire output by 160 per cent and aluminum by 230 per cent, while also acquiring specialized equipment and raw materials. Additionally, TCG plans to diversify its product range and enter new international markets, including the European Union.

This project supports Uzbekistan’s “Uzbekistan 2030” strategy aimed at tripling domestic copper production, advancing industrialization, expanding the national energy grid, and boosting electrification throughout the country.

Alongside production growth, TCG will undergo a digital transformation to optimize finance, human resources, logistics, and production processes, with improvements to accounting practices. Emphasizing human capital, the company will introduce internship programs for students from two local universities to nurture skilled talent and improve employment opportunities, laying a foundation for sustained technical expertise in the sector.

EBRD technical cooperation funds will also support the implementation of an enterprise resource planning (ERP) system to enhance operational efficiency.

Since beginning operations in Uzbekistan, the EBRD has invested nearly 5.33 billion euros across 186 projects, focusing primarily on private sector development. Over the last five years, Uzbekistan has remained the Bank’s largest financing recipient in Central Asia.