ADB to allocate grant for strengthening credit stability of Uzbekenergo
Tashkent, Uzbekistan, Dec. 19
By Diana Aliyeva – Trend:
The Asian Development Bank (ADB) will grant $1.6 million for measures to strengthen the credit stability of Uzbekenergo JSC.
The funds are allocated for such purposes as revaluation of fixed assets, implementation of corporate diagnostics of Uzbekenergo and its subsidiaries, and holding audits by international audit companies.
This was announced at an international conference, “Reforming the energy system in Uzbekistan, studying and introducing the standards of international financing into practice”, in Tashkent.
The Uzbek national news agency reported that the conference was organized at the initiative of Uzbekenergo JSC jointly with the Asian Development Bank and experts of the World Bank.
It was noted that the ADB will support Uzbekenergo in improving its business profile, enhancing corporate and operational efficiency, and introducing effective tariffs.
Moreover, an agreement was reached on implementation of promising projects with technical assistance of the Asian Development Bank.