TASHKENT, Dec 02 (UzA/APP): The Asian Infrastructure Investment Bank (AIIB) and the Government of Uzbekistan have signed a $500 million financing agreement to support the country’s Green and Resilient Market Economy Program.
The initiative is designed to accelerate Uzbekistan’s transition toward a greener, more resilient, and market-oriented economy through a comprehensive package of policy and institutional reforms.
The funding will assist the Uzbekistan government in strengthening the policy and governance frameworks necessary for low-carbon development, improved public-sector efficiency, and greater resilience to climate-related risks.
The initiative falls under AIIB’s Climate-Focused Policy-Based Financing approach, which supports systemic reforms that have economy-wide climate impacts. The reforms backed by the new financing include measures to enhance efficiency and governance in the energy sector and state-owned enterprises, expand climate-responsive public procurement, and establish transparent systems for carbon-credit development and trading. The program also highlights the development of a robust Measurement, Reporting, and Verification (MRV) system to attract greater private capital for climate investments.
The program is co-financed by the World Bank Group and is aligned with several national strategies, including Uzbekistan’s Strategy for Transition to a Green Economy for 2019-2030, its second Nationally Determined Contribution under the Paris Agreement, and the broader Uzbekistan 2030 Development Strategy. These frameworks stress clean energy, resource efficiency, and long-term economic resilience.
“This operation reflects AIIB’s commitment to supporting Uzbekistan’s reform agenda through measures that can deliver lasting climate and economic gains”, said Konstantin Limitovskiy, AIIB’s Chief Investment Officer for Region 2 and Project and Corporate Finance Clients. He noted that the program is expected to foster conditions conducive to increased climate finance and stronger private-sector engagement in Uzbekistan’s green transition.
AIIB projects that the reforms will generate substantial environmental and social benefits over time. More efficient resource use, the scaling up of clean energy solutions, and improved climate regulation are expected to reduce greenhouse gas emissions, enhance air quality, and strengthen the country’s capacity to withstand climate shocks. The adoption of cleaner technologies could also lower energy costs and improve living conditions, particularly for vulnerable communities.
Uzbekistan, AIIB sign a $500 million financing agreement to support the country’s Green and Resilient Market Economy Program
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ISLAMABAD, Dec 02 (APP): President Asif Ali Zardari and Prime Minister Muhammad Shehbaz Sharif, Tuesday, expressed their deep grief and sorrow over the martyrdom of four persons, including an Assistant Commissioner of North Waziristan in a terrorist attack in District Bannu, Khyber Pakhtunkhwa.
The president and the prime minister expressed their deep sympathies and condolences to the bereaved families and prayed for the departed souls.
The president, while strongly condemning the terrorist attack, said that with complete national consensus, operations to eliminate all terrorists, backed by foreign elements, was continuing
He further prayed for the speedy recovery of the injured police personnel and directed the relevant authorities to ensure immediate arrest of the attackers, President Secretariat Media Wing said in a press release.
The prime minister directed for a probe into the incident and brining the culprits to book, besides instructing immediate treatment to the injured, PM Office Media Wing said in a press release.
He resolved to foil the nefarious designs of terrorists, the enemies of humanity, and reiterated that government was determined to completely eradicate the scourge of terrorism from the country.
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