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IBRD to provide Uzbekistan with $ 50 mln for energy efficiency

29 May 2018 15:41 (UTC+04:00)
IBRD to provide Uzbekistan with $ 50 mln for energy efficiency

By Kamila Aliyeva

The National Bank for Foreign Economic Affairs of Uzbekistan and the International Bank for Reconstruction and Development signed a $50 million agreement to implement the project entitled “Enhancing the Energy Efficiency of Industrial Enterprises”, the World Bank representative office in Tashkent reported.

The project provides for the modernization of obsolete equipment and production processes, as well as the use of energy-saving technology in small, medium and large industrial enterprises in Uzbekistan.

It is expected that investments in the project will help save 386 GW-hours of energy and reduce emissions to 799,000 tons of carbon dioxide per year.

The project on improving energy efficiency is carried out within the framework of the program of borrowings provided by the World Bank, which was signed on May 17, 2018 during the official visit of Uzbek President Shavkat Mirziyoyev to the United States.

Earlier, the World Bank and Uzbekistan signed loan agreements totaling $940 million.

The agreements were concluded during the meeting of the World Bank Group President Jim Yong Kim and Uzbek President Shavkat Mirziyoyev within the framework of his first official visit to the United States, the website of the WB said.

The allocated funds will be used to finance four new projects in Uzbekistan in the field of improving energy efficiency, fruit and vegetable production and emergency medical services. These loans have increased the WB project portfolio in Uzbekistan to $ 2.8 billion. To date, it includes projects in the field of transport, education, agriculture, irrigation and water supply.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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