The project envisages allocation of additional financing for large industrial enterprises, small and medium-sized enterprises to invest in energy-saving technologies, as well as increase their energy efficiency potential through targeted technical assistance.

"Modernization of obsolete equipment and production processes is crucial for increasing the competitiveness of the country’s enterprises," the head of the World Bank in Uzbekistan, Mr. Hideki Mori said. "Energy efficiency helps to reduce the cost of operating and maintaining equipment, increasing productivity, and saving money by using less energy. It will also contribute to mitigating the effects of climate change. The World Bank is pleased to extend support to improve the energy efficiency of Uzbekistan’s industrial enterprises through the implementation of this project. "

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

It should be noted that 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 17 May 2018 during the official visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to the United States.