BAKU, Azerbaijan, July 1. European Bank for Reconstruction and Development (EBRD) has been taking several steps to support countries of Central Asia on their path to develop low emissions economy by switching to renewables and making more ‘green’ solutions, the EBRD official told Trend.
Thus, the EBRD and Kazakhstan also agreed to develop a long-term cooperation strategy to achieve carbon neutrality of the country’s power sector by 2060.
“In 2021 we invested $630 million in 18 projects in Kazakhstan, 40 percent of which are classified as “green”. In Uzbekistan the EBRD continued its efforts to help the country develop its low carbon pathway and achieve carbon neutrality in the power sector by 2050. The Bank and the Uzbek government also agreed to develop a long-term low greenhouse gas emissions and climate resilience strategy to take the country towards Paris Agreement alignment,” the EBRD said.
Furthermore, a number of renewable energy projects with international developers were financed by EBRD in the two countries.
“We are also working on similar initiatives and projects in the Kyrgyz Republic and Tajikistan, where we concentrate of greater efficiency of the existing power distribution networks and wider use of renewable energy (hydro and solar) in the power supply mix,” the EBRD added.