A collaboration between the European Union (EU), the Agence Française de Développement (AFD), and the United Nations Development Programme (UNDP) has been forged to bolster green financing in Uzbekistan. This joint effort, aimed at supporting the country’s Green Development goals, seeks to assist the Uzbek government in adopting an integrated approach towards identifying, assessing, and integrating potential sources of financing for green initiatives.
The project, co-financed by the EU, AFD, and UNDP, is designed to mainstream green considerations into Uzbekistan’s budgetary process. It will introduce green budgeting methodologies, optimize public finance usage, and pioneer innovative financing instruments to drive sustainable development.
On May 6, a Financing Agreement was signed by key representatives including Vincent Caupin, Director of Central Asia Office of AFD, Charlotte Adriaen, EU Ambassador in Uzbekistan, and Anas Fayyad Qarman, UNDP Resident Representative in Uzbekistan. This agreement signifies a step towards collaborative efforts to support Uzbekistan’s green priorities and objectives.
As part of the agreement, the EU has allocated a grant of €600,000, to be implemented by AFD through technical assistance to the Uzbek government. The project titled “Support to Financing Green Development in Uzbekistan” will span from 2024 to 2026, with the Ministry of Economy and Finance of Uzbekistan acting as the national implementing partner.
Anas Fayyad Qarman, speaking at the signing ceremony, emphasized the importance of integrating green priorities into financing mechanisms to drive sustainability. He highlighted the potential of using public funds innovatively to advance Uzbekistan’s green agenda.
“By integrating green priorities into financing and using innovative instruments, we’re paving the way for a budgetary process that champions sustainability. Using public funds innovatively can drive real change and support Uzbekistan’s ambitious green agenda,” Anas Fayyad Qarman voiced.
Vincent Caupin underscored the significance of green economy policies, affirming that the national budget is a pivotal tool in realizing these policies. He emphasized the collaborative efforts of the EU, UNDP, and AFD in assisting the Ministry of Economy and Finance in effectively utilizing its budget for sustainable development.
The new project builds upon the success of the previous joint initiative between AFD and UNDP, “Strengthening the national capacities towards introduction of SDG and Green budget tagging methodologies and practices in Uzbekistan,” implemented from 2022 to 2023. This initiative provided vital support to Uzbekistan in designing methodologies based on international good practices, conducting research activities, and enhancing institutional and individual capacities in SDG and Green budgeting.
Key achievements of the previous initiative include the climate budget tagging exercise conducted for the first time in Uzbekistan and the development of Uzbekistan’s first Climate Public Expenditure and Institutional Review. These outputs laid a solid foundation for fostering dialogue between the government, parliament, and civil society on climate change issues and green development.
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