EIB Supports Uzbekistan In Reaching Ambitious Green Energy Goals (Exclusive)
Date
11/2/2023 1:13:39 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 2. The European
Investment bank will support investors and the government of
Uzbekistan to reach the country's ambitious targets in reaching
energy efficiency, a source at the bank told Trend .
The source noted that EIB has already invested in four Solar
Photovoltaic systems in regions of Tutly, Samarkand, Jizzakh and
Sherabad to support Uzbekistan's green energy goals.
"Since the launch of EIB's activities in Uzbekistan in 2018, the
Bank has signed five loans for a total of 405 million euros that
support multiple infrastructure and economic sectors such as energy
efficiency and renewable energy generation, as well as water
management and access to finance for SMEs," the source noted.
The bank representative has also stressed that EIB has been
actively supporting EU's priorities in Uzbekistan and other Central
Asian countries both in the public and private sectors as set out
in the 2019 EU Strategy on Central Asia, and more recently in line
with the EU Global Gateway strategy.
"EIB co-finances EU's priority initiatives with other financial
institutions such as the World Bank, EBRD and KfW," the source
said.
Earlier this year, EIB supported the development of photovoltaic
facilities in Uzbekistan with the largest collective capacity
within the region, investing $83.6 million (as part of a larger sum
of $396.4 million in collaboration with other international
financial institutions) in Uzbekistan's 2023 solar program.
Meanwhile, the overall volume of EIB's investments in
Uzbekistan's projects amounts to 410 million euros. The Bank
continues to explore opportunities for engaging in access to
finance support for the private sector in this region while
supporting, as much as possible, their link to more green
activities and practices.
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