EBRD and ADB provide $110mn for Tajik power utility

By bne IntelIiNews June 23, 2021

The European Bank for Reconstruction and Development (EBRD) and the Asian Development Bank (ADB) are providing a financial package of $110mn to Tajikistan’s Shabakahoi Taksimoti Bark (STB), a state-owned power utility responsible for electricity distribution, in order to contribute towards its greater efficiency.

The package consists of an EBRD sovereign loan of up to $25mn and an ADB grant of $85mn. The funding will support the introduction of advanced metering and grid enhancements in seven municipalities across Tajikistan.

“The project, which will also help install billing systems and facilitate various grid improvements, will be implemented in the country’s capital Dushanbe as well as in the cities and districts of Buston, Dangara, Konibodom, Isfara, Istaravshan and Panjakent,” the EBRD said in a statement.

The project is expected to help reduce STB’s power losses by around 30 GWh and cut CO2 emissions by almost 2,000 tonnes per annum.

The latest project under the EBRD’s Tajikistan Energy Efficiency Framework will also help create employment opportunities for local young people.

To date, the EBRD has invested €765mn through 140 projects in Tajikistan.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Bulgaria's BACB to acquire 99.94% of Tokuda Bank

The Bulgarian-American Credit Bank said on April 16 it has agreed to acquire 99.94% of local Tokuda Bank from Japan-based Tokushukai Incorporated. The two banks are among the smallest in Bulgaria ... more

EIF signs guarantee agreements with 11 banks in Western Balkans, unlocking €750mn for small businesses

The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more

UniCredit sees modest growth and fiscal overshoot for Hungary in 2024

Hungary’s economic rebound will be modest this year, around 2%, and the return to potential growth is set to be postponed to 2025 with GDP expanding around 3.2%, according to UniCredit bank's ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    6 days ago
  2. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    7 days ago
  3. Russia’s war economy boosted by rising oil prices
    8 days ago
  4. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  5. Russia’s $13.4bn current account surplus in March second highest since 2007
    7 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    24 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    29 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    27 days ago
  5. UBN: Russia could take the Baltic states in 48 hours
    1 month ago

Reports

Dismiss