BAKU, Azerbaijan, September 23. Cooperation between the European Bank for Reconstruction and Development (EBRD) and Uzbekistan will become a key planning tool for achieving the country’s Global Methane Pledge objectives, a source at the EBRD told Trend.
The EBRD is currently working with the Uzbek government on the development of a national methane emissions program.
"It will become a key planning tool for achieving the country’s
Global Methane Pledge objectives," the source said. "Our support,
both technical and financial, should help Uzbekistan with a rapid
reduction in its emissions by 2030."
The initiative followed a recent meeting between Deputy Prime Minister of Uzbekistan Jamshid Kuchkarov and representatives of the delegation of EBRD headed by Managing Director for Central Asia Zsuzsanna Hargitai. Following the talks, the parties agreed to further expand and strengthen comprehensive cooperation.
Renewable energy, particularly solar and wind power, is considered one of the most important aspects of the EBRD's activities in Uzbekistan. The EBRD arranged two syndicated loans totaling $520 million to assist in the construction and commissioning of two wind farms with a total installed capacity of 1 GW in the Bukhara region in 2022. This landmark financing represents EBRD's largest renewable energy project in its operational regions.
Recently, the EBRD invested 20 million euros in the implementation of the Fund for the Development of Public-Private Partnership Projects in Uzbekistan.
The Fund is formed at the expense of grant funds in the amount of ten million euros attracted by the EBRD and loans in the amount of ten million euros provided by the EBRD to Uzbekistan.