“Uzbekenergo”: international cooperation is expanding

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December 21, 2017

“Uzbekenergo”: international cooperation is expanding

An international conference on “Reforming the energy system in Uzbekistan, studying and introducing the standards of international financing into practice” was held in Tashkent, at the initiative of “Uzbekenergo” joint-stock company, together with the Asian Development Bank, World Bank experts in the sphere of energy.

A number of measures on financial support of the energy system for its uninterrupted operation were determined through consistent technological modernization and improving efficiency, discipline, reduction of non-productive expenses, corporate governance in accordance with international standards in order to implement the resolution of the President of our country Shavkat Mirziyoyev “On priority measures of state support of basic branches of the economy in conditions of liberalization of the foreign exchange market” of September 4 of this year.

At the event, the reforms implemented in the energy sector of our country was highly appreciated, it was noted that in order to improve the financial situation, measures were planned on strengthening the credit stability of “Uzbekenergo” JSC, improving its business profile, enhancing corporate and operational efficiency, introducing effective tariffs in cooperation with the Asian Development Bank.

ADB allocates grants at the amount of 1,6 million dollars for such purposes as revaluation of fixed assets, implementation of corporate diagnostics of “Uzbekenergo” JSC and its subsidiaries, conducting audits by international audit companies for implementation of these activities.

At the event, the experience of working in the energy market in foreign countries, particularly in Europe and Central Asia was discussed, as well as an agreement was reached on technical assistance to the “Uzbekenergo” joint-stock company and implementation of promising projects by the Asian Development Bank.