TASHKENT, Uzbekistan, December 5. Uzbekistan and Germany signed an agreement on the implementation of the 9 million euros worth project on Assistance to the private sector and consultations on economic policy in Uzbekistan (Green Industrialization project), Trend reports.
The document was signed during a meeting between representatives of Uzbekistan’s Ministry of Economy and Finance and Torsten Brezina, German Agency for International Cooperation (GIZ) Cluster Coordinator of Regional projects in Central Asia.
The purpose of the meeting was to discuss the status of current projects, as well as to identify further areas of cooperation on the transition to a green economy.
The signed project on Assistance to the private sector and consultations on economic policy in Uzbekistan provides for the development and implementation of a sustainable green economy and green industry policy through intensive capacity building, on-the-job training, international networking and knowledge transfer.
The project will also provide expertise on CO2 measurement and certification, support Uzbekistan's participation in international trade in CO2 certificates and adaptation to the EU Cross-border Management Mechanism (CBM). The private sector will be supported in adapting green technologies for resource-saving, sustainable production, for example, through circular economy models and green industrial parks.
The project is said to affect regions and industries that are particularly vulnerable to climate change and its consequences.
Meanwhile, companies have invested a total of 139.1 trillion Uzbek soums ($11.4 billion) in Uzbekistan in the first six months of 2023. A significant share of these investments, 59 trillion soums ($4.8 billion), or 42.4 percent, account for foreign investment and loans directed to fixed capital.