Central Asia Launches Project to Close Gaps in Climate Finance

Tashkent, Uzbekistan (UzDaily.com) — On 10 December, a regional event was held under the project “Closing Gaps in Climate Finance in Central Asia”, organized jointly with the Global Green Growth Institute (GGGI), the UK Foreign, Commonwealth & Development Office (FCDO), and the German Society for International Cooperation (GIZ).

Participants included Umid Abidhadjaev, Deputy Minister of Economy and Finance of Uzbekistan; Dr. Malle Fofana, Deputy Director General of GGGI and Regional Director for Asia; Stella Sin Yeon Lee, Head of GGGI Uzbekistan Office; Sara Cooper, Regional Director of FCDO for Central Asia; Sergey Makarov, Head of GIZ Climate Change Program in Central Asia; as well as representatives of commercial banks.

Discussions focused on measures for decarbonizing economic sectors, attracting green investments, and expanding climate finance by strengthening the capacity of commercial banks.

Special attention was given to the implementation of carbon trading mechanisms under Article 6 of the Paris Agreement, scaling up energy-efficient and low-carbon technologies, improving the national green taxonomy, and enhancing institutional capacity.

At the conclusion of the meeting, the parties agreed to expand cooperation, increase the effectiveness of ongoing projects, launch new green development initiatives, and outlined the next steps for their implementation.