Ministry of Economy of Uzbekistan hosts meeting with delegation of World Bank

Tashkent, Uzbekistan (UzDaily.com) -- On 27 July 2018, Mubin Mirzaev, First Deputy Minister of Economy of Uzbekistan, received a delegation of the World Bank.

During the meeting, issues of implementing projects to improve the energy efficiency of industrial enterprises were discussed.

Uzbekistan is implementing a project “Enhancing the Energy Efficiency of Industrial Enterprises”, which is financed due to resources of the International Bank for Reconstruction and development (IBRD) for US$ 200.0 million. The project will be implemented in 2018-2022.

The main part of the loan funds within the framework of the Project is refinanced in the form of a revolving credit line by six participating commercial banks (National Bank for Foreign Economic Activity of Uzbekistan, Uzpromstroybank, Asakabank, Hamkorbank, Asia Alliance Bank, InFinbank) to finance investment subprojects of industrial enterprises to purchase energy-efficient equipment and introduce energy-saving technologies.

The Ministry of Economy prepared a draft resolution of the President of the Republic of Uzbekistan for the implementation of the third phase of this project and until the end of August this year, it is planned to open its financing.

Also the sides discussed further cooperation on attracting technical assistance from the World Bank Group to approve a plan to expand generating capacity at the lowest cost, conducting a tariff study and institutional reforms in the electricity sector (sector restructuring).

Another important event in the negotiations was the provision of technical assistance by the World Bank Group in the field of renewable energy. This technical assistance will be aimed at supporting the Government’s efforts to expand the introduction of renewable energy sources through the identification of policy measures, regulatory and institutional frameworks.

The sides reached agreement on work on such issues as further elaboration of the draft Law of the Republic of Uzbekistan “On Renewable Energy Sources”, development of recommendations for improving the institutional base in the field of renewable energy sources, preparation of proposals for the development of by-laws, technical regulations and standards, etc.

Following the meeting, the parties agreed on further coordination of issues and signing of the necessary documents for the practical implementation of the agreements reached.