TASHKENT, Uzbekistan, March 17. Uzbekistan and the Asian Infrastructure Investment Bank (AIIB) discussed a project to modernize the gas distribution networks in the Samarkand region under public-private partnership (PPP) terms, Trend reports.
The matter was reviewed at a meeting between Ilkhomjon Umrzakov, Deputy Minister of Economy and Finance of Uzbekistan, and a delegation from the AIIB, led by Principal Investment Solutions Specialist Syed Afsor Hassan Uddin.
The modernization initiative aims to enhance the efficiency of gas distribution networks in Uzbekistan, improve energy infrastructure, and ensure a more reliable gas supply.
In the course of the meeting, the parties discussed the initial evaluation results of the project and outlined the key steps needed for its successful implementation.
Following the meeting, both sides reaffirmed their commitment to advancing the project and agreed on the next steps to facilitate its effective execution.
Meanwhile, the AIIB has approved $250 million in financing to accelerate Uzbekistan’s climate transition towards a green, inclusive, and resilient economy.
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.