EBRD to fund projects in energy, utilities sector in Uzbekistan

BAKU. KAZINFORM Uzbekistan and the European Bank for Reconstruction and Development (EBRD) have signed agreements on projects in the heat, water supply and energy spheres totaling about 500 million euros, the State Committee on Investments of Uzbekistan said on Oct. 12.

The documents have been signed on the margins of the Uzbek-French business forum in Paris as part of the official visit of President of Uzbekistan Shavkat Mirziyoyev to France, Trend reports.

"The projects are aimed at creating favorable economic conditions in Uzbekistan and improving the living conditions of people in remote areas. In particular, agreements have been reached on modernization of heat and water supply in Namangan, Khorezm regions and Tashkent for a total amount of 260 million euros, on updating the drainage system in Kashkadarya and Khorezm regions for more than 100 million euros," the state committee said.

An agreement between the EBRD, Uzbekenergo and the State Committee on Investments on cooperation in energy sector has also been reached in the framework of the project for construction of the Muruntau power substation totaling over 70 million euros.

Earlier, The Board of Directors of the EBRD has approved a new strategy for Uzbekistan which sets out the Bank's priorities in the country for the next five years.

From 1992 to 2010, the EBRD invested 894 million euros in 54 projects in Uzbekistan. By the end of 2017, the bank signed the first six new agreements on operations in the country since 2010, totaling more than 153 million euros.