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AIIB to allocate US$250 million to support Uzbekistan`s green transition Pictured: Bank`s headquarters in Beijing
The project marks an important milestone for Uzbekistan in advancing sustainable economic growth in line with its national development strategy “Uzbekistan 2030” and its updated Nationally Determined Contribution (NDC), in which Uzbekistan commits to reducing greenhouse gas emissions per unit of GDP by 35% below 2010 levels by 2030.
The project will focus on three interrelated pillars aimed at ensuring sustainable development.
First, it will improve climate-related governance structures by strengthening institutional capacity and governance.
Second, it will focus on improving water and land management while promoting economic resilience.
Third, the project will accelerate the transition to low-carbon solutions in key sectors such as energy and transport, with a focus on improving energy efficiency and implementing sustainable practices.
In addition, the project will pay special attention to introducing sustainability and climate risk disclosure practices for state-owned enterprises, as well as scaling up renewable energy initiatives that benefit women and vulnerable communities.
“The collaboration between AIIB, ADB, and the Government of Uzbekistan underscores our collective commitment to sustainable development in Central Asia,” said Konstantin Limitovsky, AIIB Vice President for Investment Operations, Region 2, and Project and Corporate Finance. “By mainstreaming climate into economic planning, enhancing adaptation measures, and promoting decarbonization in critical sectors such as energy and transport, this project plays a key role in supporting Uzbekistan’s efforts to implement its 2030 National Strategy and meet its Nationally Determined Contribution under the Paris Agreement.”
“Climate change poses long-term, multidimensional and multi-structural challenges to the sustainability of Uzbekistan’s economic progress,” said Kanokpan Lao-Araya, ADB Country Director for Uzbekistan. “ADB is working closely with AIIB on this project to support an integrated approach to achieving sustainable, inclusive, and low-carbon economic growth in the country. It is also helping to create an enabling environment and institutional structure for climate action, strengthen adaptation priorities, and accelerate climate change mitigation actions.”
The program will be led by the Ministry of Economy and Finance of Uzbekistan, with support from key government officials. AIIB and ADB will oversee the project to ensure its effective implementation and alignment with broader development goals.
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