TASHKENT, Uzbekistan, December 16. The Asian Infrastructure Investment Bank (AIIB) has approved $250 million in financing to accelerate Uzbekistan’s climate transition towards a green, inclusive, and resilient economy, the bank told Trend.
This initiative marks a significant milestone in the country's efforts to enhance climate resilience and promote sustainable economic growth, in line with its New Uzbekistan 2030 development strategy and updated Nationally Determined Contribution (NDC). The updated NDC commits to reducing greenhouse gas emissions per unit of GDP by 35 percent below 2010 levels by 2030.
The program will focus on three interconnected pillars aimed at fostering sustainable development. First, it will strengthen climate-related governance frameworks to integrate climate considerations into national decision-making processes, thereby enhancing institutional capacity and governance. Second, it will focus on improving water and land resource management, mitigating climate risks while fostering economic sustainability, and safeguarding vital resources. Lastly, the program will drive the transition to low-carbon solutions in key sectors such as energy, transport, and e-mobility, with an emphasis on improving energy efficiency and adopting sustainable practices.
Additionally, the program will promote the adoption of sustainability and climate risk disclosure practices for state-owned enterprises and expand renewable energy initiatives, with particular benefits for women and vulnerable communities.
“This partnership between AIIB, ADB, and Uzbekistan underscores our collective commitment to sustainable development in Central Asia. By integrating climate priorities into economic planning, enhancing adaptation measures, and driving decarbonization in critical sectors like energy and transport, this program plays a key role in supporting Uzbekistan’s efforts to implement its 2030 national strategy and fulfill its Nationally Determined Contribution under the Paris Agreement,” AIIB Vice President for Investment Clients Region 2 and Project and Corporate Finance Konstantin Limitovskiy said.
The ADB Country Director for Uzbekistan, Kanokpan Lao-Araya, noted that climate change poses long-term, multidimensional challenges to Uzbekistan's economic sustainability. ADB collaborates closely with AIIB to support an integrated approach toward resilient, inclusive, and low-carbon economic growth in Uzbekistan. The program also contributes to creating the institutional framework necessary for climate action, strengthening adaptation priorities, and accelerating mitigation efforts.
The program will be implemented under the leadership of Uzbekistan’s Ministry of Economy and Finance, with support from key government agencies. AIIB and ADB will oversee the program's implementation to ensure effective execution and alignment with broader development goals.