The European Bank for Reconstruction and Development (EBRD) is considering providing Uzbekistan with a loan to develop a "green" economy, as reported by the Ministry of Economic Development and Poverty Reduction.
On November 14, the ministry's delegation held talks with top managers of EBRD's climate programs at the UN Climate Change Conference (COP29) in Baku. They discussed the implementation of projects aimed at reducing methane emissions.
Meeting participants also agreed to expand collaborative efforts in the areas of long-term low-carbon development and climate resilience. A memorandum of cooperation was signed to promote decarbonization and a "green" transition.
As part of the memorandum, mechanisms for supporting a special program for the implementation of "green" financial services are planned to be developed and launched. Up to $200 million will be allocated for these purposes.
The parties intend to establish an investment program aimed at reducing emissions produced by the waste processing and wastewater sectors. Another area of partnership will be the implementation of the country platform Nexus in the fields of water, food, and energy.
Additionally, Deputy Minister of Economic Development and Poverty Reduction Ilkhom Norkulov met with representatives of UN agencies. The main topic of discussion was ensuring environmentally safe and sustainable economic growth.
As a result of the meeting, the Ministry of Economic Development and Poverty Reduction, the UN Development Programme, the UN Economic Commission for Europe, and the ILO issued a joint statement on a "just energy transition." Within this framework, it is planned to attract grant resources amounting to $400,000.
The primary goal of the new program will be to develop the regulatory and institutional capacities of the state. Government agencies, the private sector, and civil society structures will be involved in addressing the challenges associated with the transition.
Norkulov also held discussions with representatives of the World Bank. The parties touched upon projects aimed at reducing emissions in the energy sector and managing the assets of state-owned enterprises in the oil and gas sector.
Previously, Spot reported that GIZ would allocate €3 million to Uzbekistan for the "green" economy.