Baku, Azerbaijan, May 31
By Fikret Dolukhanov – Trend:
Uzpromstroybank JSCB and the International Bank for Reconstruction and Development (a structural subdivision of the World Bank) signed a $50-million loan agreement, the press service of Uzpromstroybank stated on May 31.
In line with the agreement, Uzpromstroybank will participate in implementation of the third phase of the “Improving the Energy Efficiency of Industrial Enterprises” project.
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.
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.
Uzpromstroybank JSCB has already participated in the implementation of the 1st and 2nd phases of the WB’s project. To date, the bank has financed 19 investment projects totaling $41 million.
Implementation of the first 2 phases of the project allowed Uzbekistan to save up to 250 gigawatt-hours per year through use of advanced technologies in the energy consumption sphere and introduction of alternative energy sources.
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