ADB Boost Energy, Trade Efficiency in Uzbekistan

On the eve of its 43rd annual meetings, the Asian Development Bank inked two deals to boost the energy and trade efficiency of the meetings’ host country, Uzbekistan. The first of the two agreements is a USD350 million loan for the construction of a combined cycle gas turbine power plant. The new facility is the first of its kind in Central Asia and is expected to boost Uzbekistan’s energy efficiency.

The second deal ADB signed with Uzbekistan is a trade finance agreement with three local banks. It aims to improve the cooperation between banks and companies in the country and between local firms and their counterpart overseas. The agreement is ADB’s first trade facilitation program in Central Asia.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.