TASHKENT, Uzbekistan, July 8. The European Bank for Reconstruction and Development is considering the implementation of the next stage of its Green Economy Financing Facility initiative (GEFF II) in Uzbekistan, Trend reports.
According to the project description, the GEFF II in Uzbekistan is a financial framework provided by the EBRD, totaling up to $100 million. It includes up to $10 million concessional co-financing from the Taiwan International Cooperation and Development Fund. The aim is to support investments in climate mitigation and adaptation measures that align with the EBRD's Green Economy Transition (GET) Approach.
Building upon the achievements and knowledge gained from the previous GEFF Uzbekistan Facility, which had a financing capacity of up to $60 million, the GEFF II Uzbekistan Framework aims to expand and diversify the range of eligible investments under the GET approach. It will extend its reach to additional sectors, incorporate a gender-mainstreaming approach for the first time, and enhance its focus on climate risk management.
To facilitate the framework's objectives, Technical Cooperation funding of up to 3.355 million euros will be provided, the EBRD said.
This funding aims to transfer strategic know-how to the local market, specifically focusing on climate mitigation, adaptation, and other environmentally sustainable investments. It seeks to promote the adoption of high-performance technologies and services while supporting the transition towards a green economy.