At a meeting with the delegation of the European Bank for Reconstruction and Development (EBRD) at the Ministry of Investments and Foreign Trade, a loan and project agreement was signed for the construction of a new power transmission line included in the Uzbekistan National Electric Networks system, the ministerial press service reported.
It is noted that to date EBRD has invested more than €3.6 billion in 113 projects in Uzbekistan.
In particular, the bank provided financial assistance of $47.1 million to finance the project of construction of a new power transmission line between the settlements of Sarimoy and Jankeldy in Khorezm and Bukhara regions.
The new line will connect two wind farms with a total capacity of 1 GW under construction to the national grid. The project is supported by the Fund for countries with transitional economies and the Special Fund of shareholders.
The project will improve the capacity of the power supply system and reduce network losses. This is especially important for the growing needs of Uzbekistan’s developing industry and population, which need more and more stable energy supply, the report said.
“Uzbekistan is not only the most populous country in Central Asia, but also the fastest growing economy in the region that needs sustainable infrastructure solutions. Our bank is ready to support this growth by financing such projects,” Jürgen Rigterink, First Vice-President of EBRD, said.
