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.