EBRD provides $2.8 million loan to Uzbek manufacturer of disposable medical goods

AKIPRESS.COM - As the demand for affordable medical goods fuelled by the outbreak of the Covid-19 pandemic has grown immensely in Uzbekistan, the EBRD is stepping up efforts to support local manufacturers in Central Asia's most populated state. A senior local currency loan of up to US$ 2.8 million in Uzbek sum equivalent will allow Healthline, a leading domestic producer and trader of disposable medical goods, to launch a third production line dedicated to the manufacture of single-use medical gloves. The funds in local currency will protect the borrower from foreign-exchange-related risks.
The new production line will be commissioned in the first quarter of 2021 and will help expand Healthline's principal production site in Tashkent.
The company will be well-placed to meet constantly growing domestic demand for disposable medical goods, expected to grow at a rate of up to 11 per cent annually in the next five years. Healthline will also be able to increase exports across Central Asia and expand to new geographical locations including Russia, Europe and North America.
To date, the EBRD has invested €1.92 billion through 85 projects in Uzbekistan's economy.