BAKU, Azerbaijan, February 2. The International Finance Corporation (IFC) is extending a financial commitment of up to $18 million to East Can Solutions in Uzbekistan to facilitate the establishment of the nation's inaugural greenfield aluminum can production facility, TurkicWorld reports.
According to the International Finance Corporation (IFC), the plant, set to be located in Tashkent, is anticipated to provide beverage producers with fully recyclable aluminum packaging. This initiative aims to bolster domestic supply, meet the rising market demand, and mitigate reliance on imported goods.
IFC highlighted that the financing is expected to generate over 200 direct employment opportunities and yield significant environmental benefits. The facility’s annual production capacity is projected to reach up to 1.1 billion aluminum cans. Moreover, the implementation of energy-efficient technologies is forecasted to reduce both energy consumption and emissions, aligning with Uzbekistan’s climate goals.
Beyond providing financial support, IFC will collaborate closely with East Can Solutions to ensure its environmental and social practices adhere to IFC’s Performance Standards and global best practices. This partnership will also assist the company in pursuing EDGE green building certification.
IFC is a member of the World Bank Group focused on private sector development in emerging markets. In fiscal year 2025, IFC committed $71.7 billion to private companies and financial institutions in developing countries.
