BAKU, Azerbaijan, April 4. At the Samarkand Investment Forum, Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD), emphasized the urgent need for a green transition in Central Asia, a region she described as "on the front line of the climate crisis."
In her speech, Renaud-Basso highlighted the severe environmental challenges faced by the region, including rising temperatures, melting glaciers, droughts, and shrinking river flows. These impacts, she stated, "jeopardize energy security, agricultural productivity, and livelihoods across the region."
Renaud-Basso noted that these climate challenges are not hypothetical risks, but current realities that disrupt services and damage assets. "The scale of this challenge is indeed formidable," she remarked. However, she also framed the green transition as a significant opportunity for growth. "Investing in green technologies and a green economy creates jobs, attracts investment, increases competitiveness, and generates growth. In short, it improves economic resilience and energy security."
The EBRD has been actively supporting Central Asia’s green transition, Renaud-Basso said, citing that 61% of the bank’s projects last year were in the green sector. She outlined several key initiatives, such as EBRD’s work in the Kyrgyz Republic to improve water management through new technologies and tariff reforms. In Uzbekistan, the EBRD is helping the country meet its ambitious climate goals, having already financed over three gigawatts of renewable energy projects. The bank is also supporting the construction of the region's first green hydrogen facility and the largest battery energy storage system.
"In Kazakhstan, we are supporting competitive auctions for 6.8 gigawatts of new renewable energy capacity," Renaud-Basso shared, emphasizing the importance of creating a policy environment that attracts private sector investment. Additionally, through green city programs, the EBRD is assisting cities in Central Asia in developing action plans that catalyze investment for sustainable urban infrastructure and climate action.
However, Renaud-Basso stressed that the path forward requires more than just policy and investment—it requires strong collaboration. She advocated for the establishment of country platforms, which would bring together governments, the private sector, financiers, and other stakeholders to align efforts and mobilize resources. "Country platforms play a transformative role by delivering climate planning, regulatory support, and technical assistance, and they can mobilize private capital for climate action," she said.
The EBRD has successfully supported such platforms in Türkiye, Egypt, and North Macedonia, and Renaud-Basso expressed her belief that this model holds significant promise for Central Asia. "We are exploring this approach in Kazakhstan and Uzbekistan," she noted.