The project is directed at stimulating investments on improving energy efficiency of small and medium industrial enterprises. It is expected that the funds will be issued to Asaka Bank, Uzpromstroybank and Hamkorbank.

The Uzbek bank said a draft plan on environment protection for participating commercial banks and enterprises was developed in line with the World Bank procedures. The document will be used to ecological evaluation of proposed investments.

According to the World Bank, the project cost is US$25 million and it is will be allocated due to resources of International Development Association (IDA).