WB to allocate $150M loan to to Uzbekistan
Tashkent, Uzbekistan, Nov. 25
By Demir Azizov – Trend:
Board of Directors of the World Bank (WB) approved the allocation of a loan worth $150 million to modernize Uzbekistan’s power system, the WB said in a message.
The project is aimed to increase technical efficiency and reliability of main electric networks. As part of the project, it is planned to reconstruct 22 priority substations in Tashkent and 10 regions of the country.
The funds will be allocated by the International Bank for Reconstruction and Development (IBRD) – $92 million and International Development Association (IDA) – $58 million.
It is expected that the project will increase the stability of Uzbekistan’s power system.
The installed capacity of Uzbekistan’s power stations exceeds 12.9 million kilowatts, accounting for about 50 percent of generating capacity of the integrated system in Central Asia.
Uzbekistan joined the WB in 1992. The bank supports the holding of economic reforms, modernization of infrastructure and social sectors, as well as providing knowledge and experience to the government and people of Uzbekistan. Total amount of the WB’s current liabilities to Uzbekistan is more than $2 billion.