This project marks an important stage for our country to promote sustainable economic growth in accordance with the Development Strategy "Uzbekistan - 2030", as well as the commitment to reduce greenhouse gas emissions by 2030.
The project will cover three interrelated areas. First, it will improve climate-related governance structures. Secondly, it will focus on improving the management of water and land resources, while contributing to economic sustainability. Thirdly, the project will accelerate the transition to low-carbon solutions in key sectors such as energy and transport, with a high priority on improving energy efficiency and implementing sustainable practices.
In addition, the project will focus on introducing sustainable development and climate risk disclosure practices for State-owned enterprises, as well as expanding renewable energy initiatives that benefit women and vulnerable communities.
"The cooperation 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 in Region 2 and for Project and Corporate Finance. "Taking into account climate priorities in economic planning, strengthening adaptation measures and stimulating decarbonization in critical sectors such as energy and transport, this project plays a key role in supporting Uzbekistan's efforts to implement the national strategy 2030 and fulfill its nationally determined contribution under the Paris Agreement."
According to Kanokpan Lao-Araya, ADB Country Director in Uzbekistan, climate change poses long-term multidimensional and multistructural challenges to the sustainability of economic progress in our country. ADB's close cooperation with the AIIB within the framework of this project is aimed at overcoming them.
The program will be implemented under the leadership of the Ministry of Economy and Finance of the Republic of Uzbekistan with the support of representatives of key government agencies. The AIIB and ADB will monitor the implementation of the project to ensure its effective execution and compliance with broader development goals.
