The World Bank approved the allocation of preferential loans to Uzbekistan for $143 million

On June 27, 2022, the Executive Board of the World Bank approved the allocation of preferential loans to Uzbekistan for 143 million dollars.

These funds will be spent by the government of the country on financing the project of increasing the energy efficiency of public buildings and the development of an institutional and regulatory framework for attracting investments in “green” energy in the construction sector.

Preferential financing is provided to the Government of Uzbekistan by the International Development Association (IDA), which is part of the World Bank Group, for a period of 30 years at a low interest rate, including a five-year grace period.

In Uzbekistan, 50% of the final energy consumption falls on the building sector, while in the second place are industrial (22%) and transport (20%) sectors. About 70% of the total energy consumed in district hospitals, 84% in preschool institutions, 88% in rural doctor's offices and 97% in schools are spent on heating the premises.

"This new project, funded by the World Bank, will help to increase the energy efficiency of public buildings throughout the country. The project will help to increase the readiness of the building sector for changing climatic conditions, reduce energy consumption and reduce the emissions of greenhouse gases into the atmosphere,” said Marco Mantovanelli, head of the World Bank's office in Uzbekistan.