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World Bank allocates $526 million to finance project of electric power in Central Asia

March 28, 2014, 4:58 UTC+3 WASHINGTON
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WASHINGTON, March 28 /ITAR-TASS/. The World Bank (WB) has decided to allocate $526 million for a project to develop the export of electric power from Tajikistan and Kyrgyzstan to Afghanistan and Pakistan, the WB press service announced on Thursday.

The CASA-1000 project envisions the delivery of electric power via a high-voltage power transmission line with an overall length of of over 1,200 km. In October last year, the Kyrgyz government said the practical part of the implementation of the project was scheduled for July 2014. The final cost of the project, WB analysts pointed out, will be $1.17 billion and financing will involve a number of other organizations, including the Islamic Development Bank and the American Agency for International Development.

According to the WB decision, a lion's sharte of the sum about $316 million will be given in the form of a grant to Afghanistan. Credits will be granted to Tajikistan and Kyrgyzstan, $45 million each, and Pakistan will get a grant of $120 million.

In this connection, Laura Tuck, WB Vice-President for Europe and Central Asia, said the CASA-1000 might promote the development of transport and telecommunication sectors, as well as industry. She said that all these branches of the economies of countries participating in the project are key ones to them and that they depend on the electric power industry.

WB Vice-President for South Asia, Philippe Le Houerou, pointed out, for his part, that this is one of several important regional projects which can help develop economic contacts and improve the situation from the viewpoint of energy.

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