World Bank Secures New Grant Deal For Electricity Market Development In Central Asia

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, March 1. The Central Asia Water and Energy Program (CAWEP), administered by the World Bank, has signed a $3.2 million grant agreement with the Coordination and Dispatch Center "Energia" (KDC Energia) to support the establishment of a regional electricity market in Central Asia, Trend reports via the World Bank.

The agreement was formalized by World Bank Regional Director for Central Asia Najy Benhassine and KDC Energia Director General Khamidulla Shamsiev.

The funding will support the initial phase of developing a regional electricity market, including the launch of a pilot trading platform, the establishment of a regional market operator function, and the strengthening of interstate coordination mechanisms to enhance cooperation in electricity generation and transmission.

The grant forms part of the Regional Electricity Market and Energy Systems Integration in Central Asia (REMIT) program, approved by the World Bank in January 2026. The program provides financing of more than $1 billion through 2035 and aims to strengthen regional energy connectivity, increase cross-border electricity trade, expand transmission capacity, and facilitate the integration of renewable energy sources.

CAWEP is a partnership between the World Bank, the European Union, Switzerland, and the United Kingdom focused on enhancing water and energy security in Central Asia amid climate change challenges.

MENAFN01032026000187011040ID1110804271