COOPERATION WITH THE WORLD BANK

1 Credit Line

In accordance with the decree of the Cabinet of Ministers of the Republic of Uzbekistan dated July 25, 2011 No.211 “On Measures to Implement the Project “Improving the Energy Efficiency of Industrial Enterprises” with the participation of the International Development Association, on December 9, 2011, Asaka Bank signed an Agreement on on-lending of IDA funds in the amount of USD 8.0 million with the Ministry Finance of the Republic of Uzbekistan and the Ministry of Economy of the Republic of Uzbekistan.

Within the framework of this line, Asaka Bank financed 11 projects of such clients as JSC Uztransgaz (mobile compressor station, frequency converters), Food Industry Association (modernization of boiler facilities), JSC Uzpakhtasanoat (linter equipment, sunflower lighting device) and APO "Uzmetkombinat" (frequency converters) in the amount of 10.6 million US dollars with the involvement of IDA funds for a total of 8.0 million US dollars.

2 Credit Line

According to the decree of the Cabinet of Ministers of the Republic of Uzbekistan dated 06/12/2013 No.168 “On measures to expand the project “Improving the energy efficiency of industrial enterprises” with the participation of IDA”, Asaka Bank carried out work to attract additional financing from IDA in the amount of US $ 33.0 million through the signing of a Loan Agreement with the Ministry of Finance of the Republic of Uzbekistan and the Ministry of Economy of the Republic of Uzbekistan on October 28, 2013.

On the proposal of the Ministry of Economy of the Republic of Uzbekistan, Asaka Bank selected and received approval from the World Bank for financing of 13 projects for a preliminary amount of US $ 43.55 million with the involvement of IDA funds for a total of US $ 33.72 million. It is planned to purchase energy-efficient equipment for JSC Uzbekenergo (gas-insulated circuit breakers), JSC Uzneftegazdobycha (frequency converters, microturbine power plants), JSC Uztransgaz (equipment for heat recovery with electricity generation using OCR technology), JSC Uzpakhtasanoat (hydraulic pres