VISP: Electricity Support Facility (EBRD-52135)

Countries
  • Uzbekistan
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 30, 2020
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 95.66 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 81.6
Converted using 2020-09-30 exchange rate.
Loan Amount (USD)
$ 95.66 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 26, 2021

Disclosed by Bank May 11, 2020

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

Project Description

According to EBRD site, this loan of up to US$ 85.7 million would be provided to the Republic of Uzbekistan with the purpose of further distribution among the following branches of Thermal Power Plants (TPP):

  • Sirdarya Thermal Power Plant" ("Sirdarya TPP”)
  • Navoi Thermal Power Plant" (Navoi TPP),
  • Tashkent Thermal Power Plant" (TashTES)
  • Takhiatash Thermal Power Plant (Takhiatash TPP)

Project Objectives

  • The loan will be used to finance working capital needs of the TPP subsidiaries in the context of the EBRD COVID-19 crisis response.
  • The Project will combine long-term reform objectives with an immediate response to the COVID-19 impact by supporting the companies with a liquidity injection while contributing to the corporatization and commercialization of the power generation sector via support to IFRS standards implementation. The project is developed under the Vital Infrastructure Support Programme (VISP) which is part of the EBRD COVID-19 Solidarity Package.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
1. ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.

2. Company Contact Information

JSC "Thermal Power Plants", Foreign Economic Relations and Investments Department - Zafar Turaev
uvespi@tpp.uz
+998 71 230 9569
https://www.tpp.uz/
23 Bunyodkor Avenue 100097 Tashkent, Uzbekistan

How it works

How it works