A Memorandum was signed with the EBRD on “Cooperation in advancing the decarbonization strategy and transition to green economy of the Republic of Uzbekistan”
2024-11-14 13:15:00 / News of ministry
Harry Boyd-Carpenter, Managing Director of Climate Strategy and Delivery, Dimitri Gvindadze, Director and Head of Climate Strategy and Regional Delivery, Sung-Ah Kyun, Associate Director and lead of Climate Analytics and NDCs of the EBRD participated in the meeting.
At the meeting, the current status of the projects being implemented in cooperation with EBRD, in particular, the work being carried out in the field of reducing methane emissions in Uzbekistan, was discussed in detail.
For information: Uzbekistan joined the Global Methane Pledge aimed at reducing methane emissions worldwide in 2022.
Moreover, the parties agreed on prospective directions of cooperation in the implementation of Uzbekistan’s long-term low-carbon development and climate-resilient strategy in accordance with Uzbekistan’s obligations under the Paris Agreement.
As the first step of cooperation in this direction, a Memorandum of Understanding was signed between the Ministry of Economy and Finance and EBRD on “Cooperation in advancing the decarbonization strategy and transition to green economy of the Republic of Uzbekistan”.
Within the framework of this memorandum, it is planned to explore and implement financial mechanisms to support the implementation of the dedicated financial program related to greening the financial system, with an allocation of up to USD 200 million.
At the end of the meeting, the parties agreed to cooperate within the framework of the memorandum on greening the financial system in Uzbekistan, developing a Methane Emissions Reduction Investment Program in the waste and wastewater sectors, and implementing the country platform for the Water, Food, and Energy Nexus.
Information Service
Ministry of Economy and Finance