Uzbekistan, Tashkent, April 18 / Trend D.Azizov /
The Government of Uzbekistan and the Islamic Development Bank (IDB) signed a financial agreement worth $36 million for the project 'Modernisation and introduction of energy-efficient technologies in the outdoor lighting networks of Tashkent city.
The financial agreement was signed on the eve of President of the IDB Ahmad Muhammad Ali's visit to Uzbekistan, who arrived in the country for participation in the international conference 'Modern housing complex as an engine of development and transformation of the village and improvement of the quality of life of the population'.
The IDB board of executive directors approved the credit grant in February this year.
The credit is guaranteed by the Government of Uzbekistan under 'instalment sale' conditions for a period of 15 years including a three-year grace period.
The project at a total cost of $ 39 million provides for the replacement of 120,000 units of street lamps with mercury-vapour lamps by energy efficient sodium lamps, which will provide an annual energy saving to the sum of 22.4 million kWh.
Moreover, it is planned to install an automated system for remote control of the street lighting system of Tashkent within the scope of the project.
Currently, the total installed capacity of power networks in the Tashkent city street lighting system is 32.6 MW and the actual is 63.5 million kWh annually.
Implementation of the project is designed to take three years.
Along with the IDB credit, the project will be financed by the State JSC Uzbekenrgo's own assets.
Uzbekistan joined the IDB in 2003. The bank is involved in co-financing of projects in the field of health, education, agriculture, irrigation, electric power, transportation and private entrepreneurship support.
According to the IDB, the total amount of its credits and investments for 38 projects in Uzbekistan today constitutes more than $1 billion.