The Ministry of Energy, with the support of a concessional loan from the World Bank, is implementing the project "Clean Energy for Buildings in Uzbekistan"
Tashkent, Uzbekistan (UzDaily.com) -- The Ministry of Energy of the Republic of Uzbekistan, together with the Ministry of Investments and Foreign Trade and the Intersectoral Fund for Energy Saving, developed the Clean Energy for Buildings in Uzbekistan project. It will be implemented with the support of a preferential loan from the World Bank in the amount of US$143 million.
To implement the project, the International Development Association (IDA), a member of the World Bank Group, provides concessional financing to the government of Uzbekistan at a low-interest rate, with a maturity of 30 years, including a five-year grace period.
Loan negotiations between the Republic of Uzbekistan and the International Development Association were held on 24-25 May 2022. The head of the delegation of Uzbekistan was the First Deputy Minister of Energy Azim Akhmedkhadjaev, the IDA delegation was headed by the Regional Manager of the World Bank Marco Mantovanelli.
Taking into account the leading position of Uzbekistan in the field of mobilizing the potential of renewable energy sources, the active support of the international community for ongoing efforts to combat climate change, as well as ambitious goals to improve energy efficiency, the Board of Executive Directors of the World Bank unanimously supported the project and approved the allocation of a long-term loan from concessional resources International Development Association for its implementation.
This project is designed to play a key role in creating market incentives to attract investment in energy conservation and improve energy efficiency in the Republic of Uzbekistan.
The project will cover all regions of our country. Within its framework, it is planned to modernize over 800 institutions in the areas of preschool, public education and healthcare.
The key result of the project will be to improve the energy efficiency of public buildings, as well as to improve the regulatory framework governing the procedures for attracting investment in projects that stimulate energy saving and clean energy production.