BAKU, Azerbaijan, March 10. The Asian Infrastructure Investment Bank (AIIB) has committed to advancing Uzbekistan’s renewable energy transition with a $3.1 billion investment pipeline, as part of its continued support for the country’s ambitious green infrastructure plans, AIIB’s Chief Investment Officer Konstantin Limitovskiy told Trend in an exclusive interview.
According to him, AIIB’s $3.1 billion pipeline includes a range of sovereign-backed projects aimed at boosting Uzbekistan’s climate resilience, energy transition, and infrastructure development. These investments come in line with the country’s goal to generate 54 percent of its electricity from renewable sources by 2030, alongside an ambitious plan to add 24 GW of new renewable energy capacity.
“The key to AIIB’s support is to ensure sustainable development. Our investment pipeline focuses primarily on green infrastructure and energy projects that will contribute to Uzbekistan’s long-term climate and economic goals. We are working closely with Uzbekistan to ensure that every project aligns with the country’s climate priorities,” Konstantin Limitovskiy said.
He noted that among the notable projects in AIIB’s investment pipeline is the acceleration of the renewable energy sector. Uzbekistan has set clear targets to increase its renewable energy share, and AIIB is playing a vital role in facilitating the transition to cleaner energy sources.
The chief investment officer highlighted that the bank’s focus is not limited to the power sector but extends to broader infrastructure sectors, including transport, water management, and digital development. AIIB is actively exploring partnerships with global energy firms and other development institutions to co-finance solar, wind, and battery storage projects, which will contribute to the country’s renewable energy capacity expansion.
“We see a very strong commitment from Uzbekistan in pursuing renewable energy and sustainable infrastructure. As the country aims to reach its renewable energy target, we are pleased to offer financial and technical support to help bring these ambitious projects to life,” Konstantin Limitovskiy emphasized.
He noted that the bank’s involvement is aligned with Uzbekistan’s updated Nationally Determined Contribution (NDC) under the Paris Agreement, as well as the country’s Strategic Framework for Transitioning to a Green Economy by 2030. AIIB’s work emphasizes the importance of integrating climate risk assessments into national planning and budgeting, helping Uzbekistan build a climate-resilient economy.
"In addition to supporting energy projects, AIIB is committed to fostering gender-inclusive climate actions and ensuring that the transition to green infrastructure benefits all segments of society, especially vulnerable groups. As part of the climate transition, AIIB is also helping Uzbekistan improve its irrigation systems, which play a critical role in supporting the agricultural sector that employs over 25 percent of the country’s workforce," he said.
The AIIB’s chief investment officer emphasized that the program also includes institutional reforms in energy, transport, and water management to enhance sustainability and resilience. By strengthening the regulatory frameworks and integrating sustainability into the national development agenda, the bank is ensuring that Uzbekistan’s green transition remains robust and inclusive.
"One of the key milestones for measuring progress would be the successful implementation of the National Climate Policy and the Climate Change Gender Action Plan (CCGAP), as well as the adoption of climate and sustainability risk disclosures for state-owned enterprises. These measures will help guide Uzbekistan toward achieving its renewable energy targets while enhancing its overall climate resilience," he emphasized.
He added that AIIB remains committed to expanding its role in Uzbekistan’s green energy transition, with plans to support more renewable energy projects in the coming years. The bank’s support will also help attract private sector investments, ensuring that Uzbekistan’s infrastructure development is both sustainable and financially viable.
"With the expected completion of projects in renewable energy, AIIB aims to ensure that Uzbekistan remains on track to meet its 2030 renewable energy and climate goals, ultimately securing a green, resilient, and inclusive future for the country," Konstantin Limitovskiy concluded.