Baku, Azerbaijan, May 30
By Fikret Dolukhanov – Trend:
The International Bank for Reconstruction and Development (IBRD) will allocate $50 million to Uzbekistan for implementation of the ‘Improving the Energy Efficiency of Industrial Enterprises’, the press service of the National Bank of Uzbekistan stated.
The corresponding agreement was reached between the IBRD and the National Bank of Uzbekistan on May 29.
The project will provide additional funding for large industrial enterprises, small and medium-sized enterprises to invest in energy-saving technologies, and to increase their energy efficiency capacity through targeted technical assistance.
Head of the World Bank office in Uzbekistan Hideki Mori noted that modernization of obsolete equipment and production processes is crucial for increasing the competitiveness of the country's enterprises.
“Energy efficiency helps to reduce the cost of operating and maintaining equipment, to increase productivity and save 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 increase energy efficiency of Uzbekistan's industrial enterprises through implementation of this project,” Mori said.
The investments in the project are expected to help saving 386 gigawatt-hours of energy and reducing emissions to 799,000 tons of carbon dioxide a year.
The project to improve energy efficiency is carried out within the framework of the program of loans provided by the World Bank, which was signed on May 17, 2018 during the official visit of Uzbek President Shavkat Mirziyoyev to the US.
---
Follow the author on Twitter: @FDolukhanov