A grant agreement for $3.2 million was signed in the capital of Uzbekistan between the Central Asia Water and Energy Program (CAWEP), administered by the World Bank, and the Energy Coordination and Dispatch Center. The funds will be used for the first steps in creating the region's first electricity market, including the development of a pilot project and strengthening interstate cooperation.
The REMIT program, scheduled until 2035 and approved by the World Bank, provides funding of over $1 billion and aims to integrate the energy systems of Central Asian countries, expand cross-border electricity trade, and introduce renewable energy sources. The signing of the grant was supported by representatives of the World Bank, the EU, the UK and Switzerland.
According to the participants, the funds will help create the function of a regional market operator, establish coordination between countries, and prepare the infrastructure for efficient electricity exchange. CAWEP is a partner of the countries of the region, ensuring water and energy security and resilience to climate change.