OREANDA-NEWS. Uzbekistan and the Islamic Development Bank signed a financial agreement within the project “Modernization and Introduction of Energy-Efficient Technologies in the System of Street Lighting Networks in the City of Tashkent”

The document was signed within the visit of Ahmad Mohamed Ali, President of the Islamic Development Bank, to Uzbekistan. The IDB leader has been visiting Uzbekistan to attend the international conference “Modern Housing Construction as an Engine of Integrated Development and Transformation of Rural Areas, Improvement of Living Conditions of the Population”.

As reported earlier, the Board of Executive Directors of the Islamic Development Bank issued a loan for US436 million to implementation of the Efficient Outdoor Lighting for Tashkent City Project in Uzbekistan.

The IDB funds will be directed to implementation of the Efficient Outdoor Lighting for Tashkent City Project, which was initiated by the Tashkent city administration and Toshshaharnur (Tashkent city light).

The project is aimed at raising efficiency of outdoor lighting network in Tashkent city, capital of Uzbekistan.

The project implementation will allow to cut electricity consumption at outdoor lighting of Tashkent city and CO2 emission.

The project will also allow to improve outdoor lightening of cities of the city and increase capacity of roads, as well as introduce energy saving and harmless lighting sources in the city.

This year our country celebrates the tenth anniversary of relations with the IDB. A high level of mutual understanding has been achieved for the past period along with a solid interaction base packed with a whole range of successful projects.

As part of cooperation with so prominent a financial institution, ten schemes totaling USD 186.4 million have been completed. Another ten projects worth USD 640.9 million are currently in progress. Nine other schemes for USD 877.9 million have been arranged and pending implementation.

In addition, as part of technical assistance from the IDB, grants worth USD 2.7 million have been earmarked to Uzbekistan for the realization of twelve projects.