EBRD to support five thermal power plants in Uzbekistan

16 August 2021 18:10 (UTC+04:00)

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The European Bank for Reconstruction and Development (EBRD) will provide a loan of €81.6 million to support five thermal power plants (TPP) in Uzbekistan, Trend reports with reference to the EBRD.

According to the information, the loan is provided within the project on "Vital Infrastructure Support Program: Support for the Electricity Industry". It is reported that the Cabinet of Ministers of Uzbekistan approved measures for the implementation of the project in the next two years.

It is reported that the loan is issued for a period of seven years, including a grace period of 30 months, at a rate of one percent per annum plus a six-month Euribor rate and a commission of 0.5 percent.

The loan will be coordinated by the company Issiklik Electr Stationsalari JSC. The borrowers will be Tashkent TPP JSC, Navoi TPP JSC, Takhiatash TPP JSC, Syrdarya TPP JSC, Talimarjan TPP JSC. These enterprises are the executors of the project and are fully responsible for the efficient use of the EBRD loan.

It is noted that the repayment of the debt allocated by the EBRD, including payments on interest, one-time commissions and other expenses, will be made at the expense of thermal power plants.

The Credit Agreement for the Vital Infrastructure Program to Support the Electricity Sector was signed on December 9, 2020.

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