By Kamila Aliyeva
The Asian Development Bank (ADB) intends to provide Uzbekistan with loans in the amount of about $ 2.1 billion in 2017-2019, CA-News reported citing the Bank.
The main volume of the issued funds – about $ 1.1 billion is planned to be spent on the modernization of the energy sector of Uzbekistan, primarily, on the reconstruction of power transmission lines, as well as thermal and hydro power plants.
The government of Uzbekistan has made energy efficiency one of its priorities, with a policy and legal framework in place to reduce energy losses. Investments in clean power generation technologies are a core part of this approach.
Currently, to produce $1 of GDP, Uzbekistan uses four times more energy than the world’s average, and 60 percent more than neighboring Azerbaijan and Kazakhstan.
Earlier, ADB reported that the bank has decided to allocate $100 million for the construction of a solar power plant with the capacity of 100 MW in the southern Uzbekistan.
ADB's country operations business plan (COBP), 2017-2019 for Uzbekistan includes operational support for transport, energy, municipal services, and access to finance, and pilot-based and demand-driven support to education and healthcare.
Uzbekistan became an ADB member in 1995 and today, the country is the largest recipient of loans from this financial institution in Central Asia.
Since 1995, the total amount of funds that have been provided by ADB to Uzbekistan is about $5.1 billion which were spent on the realization of 54 projects related to the fields of agriculture, education, modernization of the energy sector and transport infrastructure.
In addition, approximately $65 million has been allocated by ADB in the form of grants for technical assistance.
Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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