PHOTO
Saudi-based Islamic Development Bank (IsDB) has approved $200 million to support the development of energy projects through public -private partnership (PPP) mode in Uzbekistan and Uganda
The projects form part of a $1.12 billion allocation for development projects in nine member countries, according to an IsDB press statement.
The statement said the bank approved $100.87 million for the Surkhandarya combined cycle power plant project in Uzbekistan, which will help substitute the aging and inefficient fleet of gas-fired thermal power plants.
In Uganda, the bank has provided $100 million financing as part of the Islamic tranche for the East Africa Crude Oil Pipeline (EACOP) project. The 1443-kilometre cross-border buried-heated crude oil pipeline will enable the Uganda to export its oil to international markets.
Additionally, the bank approved $601.7 million, as sovereign financing, for transport projects in Guyana ($200 million), Uzbekistan ($106.7 million), and Uganda ($295 million).
These projects will enhance access to infrastructure, facilitate access to markets for farmers and traders, and reinforce regional integration and tourism for the member countries, the statement stated.
SDC Code: 4297803158 - Surkhandarya
SDC Code: 3180809158 - EACOP
(Writing by D Madhura; Editing by Anoop Menon)
