VISP: Electricity Support Facility (EBRD-52135)

Countries
  • Uzbekistan
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
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 11, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 87.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 87.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 20, 2020

Disclosed by Bank May 11, 2020


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Project 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
  • European Bank for Reconstruction and Development (EBRD)
Contact Information
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