THE WORLD BANK TO BOOST INSTITUTIONAL CAPACITY
In 2019 Uzbekistan and the International Development Association (hereinafter – “IDA”) signed a 33 million USD loan agreement for a period of 30 years, including a 5 – year grace period, in order to implement the “Institutional Capacity Development” project. The IDA loan is provided to improve the system of public finance management, conditions for ensuring the operation of the corporate sector based on market economy, mechanisms for supporting reforms, as well as project management areas. Repayment of the loan will be made at the expense of the state budget.
MASDAR TO TRANSFER THE NAVOI PROJECT TO NUR NAVOI SOLAR
The project company is exceptionally exempt from compensation for agricultural production for the use of land intended for farming, as part of the implementation of the investment project.
Construction is planned to commence in the third quarter of 2020 and the PV plant start-up is scheduled for the third quarter of 2021. The project company will also operate and maintain the plant for 25 years.