(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, December 26. The European Bank for Reconstruction and Development (EBRD) is issuing a sovereign loan of up to $66.4 million to the National Electric Grid of Uzbekistan (Uzbekistan's national power transmission utility) for construction of a new high-voltage transmission line, the bank told Trend .

The new 500 kV transmission line will span 230 kilometers, connecting Sarimay in the Khoresm region with Muruntau in the Navoi region of Uzbekistan.

This crucial project aims to eliminate grid bottlenecks and reduce electricity outages, particularly during peak demand periods. It will also facilitate the integration of renewable energy sources, supporting Uzbekistan's low-carbon development strategy for its power sector, which was created with the bank's assistance.

The project is expected to reduce greenhouse gas emissions by 4,143 tonnes annually and decrease electricity losses by 34,636 MWh each year.

To date, the EBRD has invested approximately 5.3 billion euros in 171 projects across Uzbekistan.

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