Energy efficiency of industrial enterprises in Uzbekistan to be increased with funds of the European Investment Bank

09.07.2019

At the end of the week, a press conference on Improving the Energy Efficiency of Industrial Enterprises of Uzbekistan was held at the Ministry of Economy and Industry.

Bakhodir Kariev, the cagrHead of Modernisation and Development of the Fuel and Energy Sector and Deeper Hydrocarbon Processing, Odilhon Nimatullaev, Deputy Head of Energy Efficiency and Renewable Energy Development, and Alisher Alimbaev, Group Leader, told about the work being done at the country's enterprises. coordination of the project "Improving the energy efficiency of industrial enterprises."

The project has been working in the republic since 2011. It is financed by concessional loans from the International Development Association of the World Bank ($125 million in soum equivalent) and funds from commercial banks of Uzbekistan.

Over the eight years of the project, concessional loans have been allocated to more than 30 industrial enterprises, 82 subprojects have been successfully implemented in such energy-intensive industries as oil and gas, mining, chemical, electric power, construction and processing. They were financed by the NBU of Uzbekistan, Asaka Bank, Sanoat Qurilish Bank, Hamkor Bank, Asia Alliance Bank and Infinbank.

According to experts, as a result of the work of sub-projects, more than 500 million kWh of electricity and 187 million cubic metres were saved. m. of natural gas per year.

As the project coordination group Improving the Energy Efficiency of Industrial Enterprises recalled, last October, during the President’s state visit to France, a financial contract was signed with the European Investment Bank for the allocation of 100 million euros for the project. At the end of June, the Cabinet of Ministers adopted a resolution “On measures to attract funds from the European Investment Bank within the framework of the project“ Improving the energy efficiency of industrial enterprises ”with the participation of the International Bank for Reconstruction and Development”. EIB funds will be refinanced through five commercial banks: Sanoat Qurilish Bank, Hamkor Bank, Asia Alliance Bank, Qishloq qurilish bank and Mikrokreditbank.

Due to the increase in energy efficiency and economy of electricity and gas, the cost of industrial products is reduced, it was emphasised at a press conference. The consequence of this is the growth of the export potential, the financial condition of the company and the improvement of the welfare of the population.

Reported by News of Uzbekistan.