A new initiative to support green development in Uzbekistan is about to be launched with financial support from the French Development Agency (AFD), the European Union and the United Nations Development Program (UNDP).

The new project aims to assist the government in developing a comprehensive approach to identifying, assessing and integrating potential sources of financing to achieve the country’s green priorities and goals, further integrating green aspects into the budgeting process through full-scale implementation of green budgeting methodology, more efficient use of existing public finances, and piloting and introducing new innovative financial instruments. It is expected that the Ministry of Economy and Finance of Uzbekistan will act as a national partner in the implementation of this project.

On May 6, 2024, a Financing Agreement was signed between Mr. Vincent Copin, Head of the Central Asia Office of the French Development Agency (AFD), Ms. Charlotte Adrian, Ambassador of the European Union to Uzbekistan, and Mr. Anas Fayyad Karman, UNDP Resident Representative in Uzbekistan. This agreement will open new opportunities for cooperation between the three parties to support the Government of Uzbekistan in achieving its goals and objectives towards green development and transition to a green economy.

Under this Agreement, grant funds of €600,000 provided by the European Union will be utilized by FAR and UNDP to provide technical assistance to the Government of Uzbekistan under the joint project on “Supporting Green Finance in Uzbekistan” for the period 2024-2026.