The Ministry of Economic Development and Finance reached agreements on funding projects in Uzbekistan's "green" economy at the COP29 conference in Baku with several organizations.
The ministry's delegation held discussions with Helena McLeod, the Deputy Director-General of the Global Green Growth Institute (GGGI). The parties talked about a project aimed at implementing the Paris Agreement in collaboration with South Korea.
As part of the project, Uzbekistan is receiving assistance in implementing reforms aimed at ensuring sustainable growth. This includes "green" investments and finances, climate-resilient agriculture and forestry, as well as the development of a carbon market.
Following the negotiations, a framework agreement to support the "green" transition was signed. The document allocates up to $6.5 million to Uzbekistan on a grant basis.
Additionally, the Uzbek delegation met with Rémy Riou, the head of the French Development Agency (AFD), and Jeffrey Sachs, the president of the Sustainable Development Solutions Network (SDSN). The discussion focused on the implementation of the United Nations Sustainable Development Goals.
The parties signed a memorandum of understanding regarding the monitoring of the achievement of the SDGs. Reports on the efforts to implement the goals in Uzbekistan's regions and existing shortcomings will be prepared with the participation of international experts.
The initiative is expected to improve Uzbekistan's position in the SDG ranking. A grant of $200,000 is allocated for its implementation.
Previously, Uzbekistan secured an additional €3 million for the "green" economy from GIZ. The European Bank for Reconstruction and Development is considering allocating up to $200 million for a program to implement "green" financial services.
Earlier, Spot reported that the Ministry of Economic Development and Finance proposed setting a limit on obligations for public-private partnerships at $6.5 billion for 2025.