05 December 2023

An agreement was signed to attract 9 million euros of German funds for the development of “green” industrialization in our country

On December 3, a delegation of the Ministry of Economy and Finance met with Thorsten Brezina, coordinator of the Regional Program Cluster in Central Asia at the 28th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP28) in Dubai, the Information Service of the Ministry of Economy and Finance reports.

The purpose of the meeting is to discuss the status of current projects, as well as to determine further areas of cooperation on the transition to a green economy.

The parties began negotiations by discussing the current reforms being carried out in the country, including work on developing master plans for each region of the country. These reforms are part of the framework that donors and financial institutions are using to support the country’s successful transition to a green economy.

In addition, a project on Private Sector Assistance and Economic Policy Consultation in Uzbekistan was discussed, aimed at identifying industrial sectors and infrastructure for the subsequent green transition.

This project will assist the Ministry of Economy and Finance in carrying out economic reforms and creating conditions for long-term economic development, with a special emphasis on developing the capacity of the public and private sectors for green industrialization and the green economy.

The proposed project will develop and implement sustainable green economy and green industry policies through intensive capacity building, on-the-job training, international linkages and knowledge transfer.

The project will also provide expertise on CO2 measurement and certification, support Uzbekistan’s participation in the international trade of CO2 certificates and adaptation to the EU cross-border management mechanism (CBM). The private sector will be supported to adapt green technologies for resource-efficient, sustainable production, for example through circular economy models and green industrial parks.

The project will target regions and industries that are particularly vulnerable to climate change and its impacts.

Following the meeting, the parties signed an agreement on the implementation of the project “Promotion of the private sector and consultations on economic policy in Uzbekistan” (“Green Industrialization”) with a total value of 9 million euros.