World Bank approves additional $90 mln energy efficiency loan for Belarus
MINSK. June 7 (Interfax) - The World Bank's Board of Executive Directors has approved a $90 million loan to Belarus for additional financing for an Energy Efficiency Project, the World Bank said in a press release.
Through this project, the World Bank is partnering with the country to improve energy efficiency and address climate change challenges.
The additional loan will provide for more improvements in heat and power generation similar to those being implemented under the original S$125 million loan which was approved in 2009. The new loan will finance reconstruction of two combined heat and power plants in the cities of Gomel and Mogilev operating with old gas-fired steam boilers to combined cycle gas turbine heat and power plants.
As a result of the original loan and the additional financing, about 145 megawatts of additional electric capacity based on modern gas turbines and engines are being installed. The efficiency of heat and power generation at the project sites will be increased by 15% to 30%, and the reduction of carbon dioxide emissions per year is estimated at about 250,000 tonnes.
The current World Bank investment lending portfolio in Belarus includes six operations for a total amount of $547.5 million. Since Belarus joined the World Bank in 1992, commitments to the country have totaled $955 million for 13 projects. In addition, grant financing totaling $23.7 million has been provided to about 30 programs including those with civil society organizations.