QAZAQ GREEN.  The Asian Infrastructure Investment Bank (AIIB) and the government of Uzbekistan have signed an agreement to finance the Green and Sustainable Market Economy Transition Program with US$500 million, UZ Daily reports citing the bank’s press service.

The program aims to accelerate the country’s transformation toward an environmentally friendly, sustainable, and market-oriented development model. It supports the transition to a low-emission economy, improves the efficiency of public institutions, and strengthens Uzbekistan’s resilience to climate risks.

Key measures include enhancing governance transparency in the energy sector and state-owned enterprises, implementing climate-oriented public procurement rules, and developing regulations for the issuance and trading of carbon credits. All processes will be supported by monitoring and reporting systems to facilitate private investment.

The program is co-financed with the World Bank and fully aligns with the 2019–2030 Green Economy Transition Strategy, as well as Uzbekistan’s international emission reduction commitments.

“The program creates conditions for expanding climate financing and private sector participation. We look forward to continued close cooperation with the government of Uzbekistan on its green transition,” said Konstantin Limitovsky, AIIB Investment Director (Region 2).

Implementation of the program will involve rational resource use, adoption of clean energy solutions, climate-focused regulation improvements, greenhouse gas emission reductions, and increased climate resilience. Additionally, it is expected to lower energy costs and improve living conditions, particularly for socially vulnerable populations.