EU to join efforts with the World Bank to develop water and energy in Central Asia

Brussels, 20-12-2012 — /europawire.eu/ — Today, EU Commissioner for Development, Andris Piebalgs, will announce a grant to the World Bank Multi Donor Trust Fund (MDTF) in support of water and energy in Central Asia. The signing of the contribution agreement will take place during a meeting with Philippe Le Houérou, Vice President of the World Bank.

During the meeting the Commissioner and the Vice President will discuss other possible areas of co-operation in Central Asia, including World Bank participation in the Investment Facility for Central Asia (IFCA), which provides financial assistance to partner country governments and public institutions to carry out essential investments, which would otherwise be postponed due to a lack of resources.

Commissioner Piebalgs said: “I am happy to see that the cooperation between the European Union and the World Bank in Central Asia has intensified in recent years. Today’s agreement builds on our shared values and confirms our desire to make our work together even more effective. The renewed commitment to focus on sectors like water and energy is in line with our own priorities, and I hope that by working together with our partners we will be able to make more of a difference in Central Asia.”

World Bank engagement in this region is currently focused on three countries – Kirgizstan, Tajikistan and Uzbekistan, while the MDTF focuses particular attention on enhancing the overall governance and long term development of a sustainable energy sector in Tajikistan.

The main objective of the EU contribution to the Trust Fund is to strengthen cooperation and enhance coherence between the World Bank Central Asia Energy-Water Development Program (CAEWDP) and EU initiatives on Energy and Water in Central Asia. MDTF activities in particular will focus on achieving a modern regulatory framework for the Tajik energy sector, setting up a credible and transparent energy management policy and also promoting coherent policies at regional level.

EU cooperation with World Bank in Central Asia

The EU is contributing to two Trust Funds managed by the World Bank in Tajikistan (€2 million) and Kyrgyzstan (€2.8 million), supporting Public Financial Management reforms for capacity building of the Ministry of Finance, streamlining core budget management procedures. These programmes are a key element in supporting the eligibility of both countries to budget support.

For further information

Website of the European Commissioner for Development, Andris Piebalgs:

http://ec.europa.eu/commission_2010-2014/piebalgs/index_en.htm

Website of EuropeAid Development and Cooperation DG:

http://ec.europa.eu/europeaid/index_en.htm