Cooperation

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Cooperation with the world Bank

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In accordance with the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of 25 July 2011. №211 "On measures to implement the project " Enhancing the energy efficiency of industrial enterprises" with the participation of the International Development Association, on December 9, 2011, Asaka bank signed an agreement on refinancing of IDA funds in the amount of USD 8.0 million with the Ministry Finance of Uzbekistan and the Ministry of Economy of Uzbekistan.
Within the framework of this line, Asaka bank financed 11 projects, including JSC Uztransgaz (mobile compressor station, frequency converters), food industry association (boiler house modernization),JSC Uzpakhtasanoat (linter equipment, sunflower lighting) and AU “Uzmetkombinat” (frequency  transducers) in the amount of USD 10.6 million with the involvement of IDA funds for a total of USD 8.0 million.

   

2 credit line:

On October 28, 2013, in accordance with the resolution of the Cabinet of Ministers of the Republic of Uzbekistan as of 12.06.2013 №168 "On measures to expand the project "Enhancing the energy efficiency of industrial enterprises" with the participation of IDA, Asaka Bank was granted additional financing from IDA in the amount of USD 33.0 million by signing the agreement on refinancing with the Ministry of Finance Uzbekistan and the Ministry of Economy of the Republic of Uzbekistan. 

On the basis of the Ministry of Economy of the Republic of Uzbekistan`s advise, Asaka bank submitted and got an approval of the World Bank for financing 13 projects for a preliminary amount of USD 43.55 million with IDA funds for a total of USD 33.72 million. It is planned to purchase energy-efficient equipment for Uzbekenergo (sf6 circuit breakers), Uzneftegazdobycha (frequency converters, Microturbine power stations), Uztransgaz (equipment for heat recovery with electricity generation by OCR Technology), Uzpakhtasanoat (hydraulic press) and Navoi metallurgical mining (replacement of electric motors on excavators).