BAKU, Azerbaijan, March 17. The Asian Infrastructure Investment Bank (AIIB) is playing a crucial role in Uzbekistan’s ambitious $250 million program to transition toward a low-carbon, resilient, and inclusive economy, AIIB's Chief Investment Officer Konstantin Limitovskiy told Trend.
Konstantin Limitovskiy outlined the expected milestones and indicators that will be used to evaluate the progress of the program, which targets the development of low-carbon solutions in sectors such as energy, transport, and e-mobility. The program is designed to support Uzbekistan’s transition to a low-carbon economy, fostering reforms in energy, transport, and climate resilience.
"A major indicator will be the adoption and implementation of the National Climate Policy and the Climate Change Gender Action Plan (CCGAP), integrating climate-focused measures into national planning, budgeting, and public investment management. Strengthening climate and sustainability risk disclosures for state-owned enterprises will also be critical, ensuring that public sector entities factor climate risks into decision-making processes," he said.
According to him, the improved governance and monitoring mechanisms - such as climate-responsive regulations - will be tracked to assess the program’s effectiveness in driving resilience and sustainability.
"Sector-specific milestones will include policy reforms enabling Uzbekistan to meet its target of generating 54 percent of electricity from renewable sources by 2030, alongside measures to enhance energy efficiency and transition the transport sector to low-carbon mobility. The integration of gender considerations in climate adaptation policies, particularly in agriculture and urban transport, will be another key metric," Konstantin Limitovskiy noted.
He emphasized that AIIB will work closely with Uzbekistan and other stakeholders to ensure these institutional reforms lead to tangible outcomes supporting the country’s long-term climate and economic priorities.