World Bank OKs USD25M for Energy Project in Uzbekistan

The World Bank on June 17 approved a USD25 million loan to finance the Energy Efficiency Facility for Industrial Enterprises Project in Uzbekistan. The five-year initiative has two components:

- provision of energy efficiency credit line to Asaka Bank, Uzpromstroybank and Hamkorbank wherein each bank will receive USD8 million to lend to industrial enterprises that carry out energy efficiency investments.

- development of energy efficiency capacity.

The project’s total investment volume is estimated at USD34.6 million. The International Development Association of the World Bank will extend USD25 million credit and Uzbekistan’s banks and industrial enterprises will co-finance the rest.

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    Chiden Balmes

    Chiden, a correspondent based in Seoul, focuses on computer-assisted reporting to provide international development professionals with practical business and career information. He also contributes to the Development Newswire and the Global Development Briefing, two of the world's highest-circulation development publications.