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    Reference: 20180198
    Release date: 18 July 2018

    Promoter – Financial Intermediary




    The proposed Sovereign loan will support energy-efficiency projects of industrial enterprises in Uzbekistan


    The project is in line with the EU objectives set out in the EU and Central Asia Strategy for a New Partnership and particularly the EU-Uzbekistan Memorandum of Understanding on cooperation in the field of energy, renewed in February 2017. The funding will support the country's sector reforms, improve EE (Energy Efficiency) and reduce GHG (Greenhouse gas) emissions.


    The proposed operation is a loan to support Energy Efficiency ("EE") investment in Uzbekistan and it would complement an ongoing World Bank (WB) project ("Uzbekistan EE for Industrial Enterprises (UZEEF)".


    Proposed EIB finance (Approximate amount)

    EUR 100 million

    Total cost (Approximate amount)

    Not applicable.

    Environmental aspects

    The Promoter will be required to implement and operate the relevant investments in conformity with national law, World Bank rules and the EIB environmental and social standards as set out in Vol I of the EIB Environmental and Social Handbook. This project intends to bring environmental benefits by supporting Energy Efficiency investments that reduce consumption and thus help to mitigate climate change. Most of the individual investment schemes currently envisaged under this framework loan are small and are expected to have limited environmental and social impacts. The main investment envisaged are variable speed drive installation, waste heat recovery, modernisation of compressor stations and inefficient boilers replacement. However some of the investments may relate to projects falling under Annex II of the EIA Directive 2014/52/EU (amending the 2011/92/EU) if located in the EU, requiring the competent authorities to determine whether an EIA is required. Where a formal EIA is required (or would be required, were the project located in the EU), a copy of the Environmental & Social Impact Study or the Non-Technical Summary (NTS) or equivalent document will be provided to the Bank, and published on its website at the time of allocation. The FI will also be required to verify that none of the schemes submitted for financing by the Bank have a significant negative impact on any site of nature conservation importance. The Promoter's capacity to ensure that the schemes are in compliance with the EIB's environmental and social standards and the principles of relevant EU Directives will be also verified at appraisal. All project's components are expected to be operated and implemented in conformity with applicable national law, World Bank rules and the EIB environmental and social standards.


    The Bank will require the promoter to ensure that any procurement procedures are done in accordance with the Bank's Guide to Procurement.


    Signed - 5/10/2018


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Uzbekistan Credit lines