TASHKENT, Uzbekistan, October 15. Asian Development Bank (ADB) is planning to allocate $170 million for Green Electric Vehicle Program in Uzbekistan and six other countries, Trend reports.
The news followed a recent meeting between First Deputy Minister of Transport of Uzbekistan Mamanbiy Omarov and representatives of ADB.
During the meeting, the parties discussed issues related to the financing of the Electric Vehicle Program implemented by Green Climate Fund under the direction of Food and Agriculture Organization of the United Nations (FAO).
The Asian Development Bank intends to distribute $170 million to support this program across seven countries, including Uzbekistan. Among this total amount, $65 million will be provided as grants, while the remaining $105 million will be extended as a loan.
The allocated funds will be used to eliminate barriers to the popularization of commercial electric vehicles. Additionally, the allocation will support the deployment of electric buses and related infrastructure, aiming to enhance the public transportation system.
Along with this, the program includes 4 directions providing support for state policy aimed at the development of the transport sector of the target countries.
Earlier this year, ADB has approved a $200 million loan to modernize the transmission and distribution system of electricity in Uzbekistan.
The projects will be implemented within the framework of Digital Transformation and increasing the stability of the distribution network program. Thus, 26 distribution substations in the regions of Uzbekistan will be upgraded to digital substations, including supervisory control and data acquisition (SCADA).
The implementation of this project is planned to supply additional energy necessary to meet the growing demand in the country.