The Innovative Carbon Resource Application for Energy Transition Project for Uzbekistan (iCRAFT) is the World Bank’s first “policy crediting” program. Through a $46.25 million grant, iCRAFT aims to create incentives for energy subsidy reforms that will result in lower energy consumption and GHG emissions.
The objective of the proposed TCAF crediting program is to support the transformation of Uzbekistan’s energy sector into an efficient and low-carbon sector, by paying for emission reductions generated from electricity and natural gas tariffs reform.