Tashkent Launches Project to Expand “Green” Investments in Uzbekistan and Kyrgyzstan

Tashkent, Uzbekistan (UzDaily.com) — On 12 November 2025, a seminar was held in Tashkent to mark the launch of a new regional project aimed at promoting “green” investments and removing barriers to climate financing in Uzbekistan and Kyrgyzstan.

The initiative is being implemented with support from the Global Green Growth Institute (GGGI) and the Small Grants and Climate Innovation Fund (SGCIF), funded by the UK government. The project is part of the regional program “Climate Risk Management in Central Asia,” carried out by GIZ on behalf of the German government.

Representatives from the embassies of the United Kingdom and Germany, as well as national ministries responsible for environment, agriculture, finance, and economic development, participated in the event.

Support from International Partners

Sara Cooper, Director of Development at the UK Foreign, Commonwealth & Development Office (FCDO) in Central Asia, noted that attracting climate financing allows countries in the region to reduce climate risks and strengthen economic resilience.

“Britain is proud to support a project that will foster sustainable growth and development across the region,” she emphasized.

Clemens Schwanhold, Deputy Head of Mission at the German Embassy, stated that Germany is a strategic partner in financing climate action.

“Thanks to our ambitions, the project’s results could serve as a model for other countries in Central Asia,” he said.

Key Areas of the Project

The project focuses on analyzing the current state of climate financing in both countries and identifying the main obstacles to expanding “green” investments.

The initiative aims to develop sustainable financing mechanisms for at least two commercial banks in each country, which is expected to mobilize at least $50 million for the implementation of “green” projects.

Additionally, the project plans to create new financial instruments to help businesses, farmers, and financial institutions access funding for implementing environmentally sustainable solutions.

Previously, GGGI supported Agrobank and Sanoat Qurilish Bank (SQB) in developing “green” financing mechanisms. As a result, approximately $1 billion was mobilized in 2024 through sustainable and green bonds, dedicated to climate and social projects.

Significance of the Initiative

The new initiative represents an important step in advancing the “green” transition in the region, strengthening cooperation between Uzbekistan and Kyrgyzstan, and ensuring sustainable economic growth and climate resilience in Central Asia.