The World Bank will provide US$50 million to Uzpromstroybank in the framework of the project.

Under the project, the bank will provide concessional financing for large industrial enterprises, small and medium-sized enterprises (SMEs) to invest in energy-saving technologies, as well as increase their energy efficiency potential through targeted technical assistance.

It is expected that investments in the third phase of the project will help to save 386 thousand MWh of energy and reduce emissions to 799,000 tons of carbon dioxide a year.

Uzpromstroybank previously participated successfully in implementation of the 1st and 2nd phase of the World Bank project "Increasing the energy efficiency of industrial enterprises". To date, the bank has financed 19 investment projects in the amount of $ 41.0 million.

Previous two phases of the projects helped Uzbekistan to save up to 250,000 MWh of electricity per year through the use of advanced innovative technologies in the field of energy consumption and the introduction of alternative energy sources.