EBRD may allocate $200 million to Uzbekistan

The European Bank for Reconstruction and Development (EBRD) is considering granting a loan of up to $200 million to Uzbekistan to promote the development of its green economy. This was announced by the Ministry of Economy and Finance.  

On November 14, a delegation from the ministry engaged in discussions with senior managers of EBRD's climate programs during the UN Climate Change Conference (COP29) in Baku. The talks centered on implementing projects aimed at reducing methane emissions.  

The parties also agreed to strengthen collaboration on long-term low-carbon development and climate resilience. A memorandum of cooperation was signed to advance decarbonization efforts and support the green transition.  

Under the memorandum, mechanisms will be developed to introduce "green" financial services, with up to $200 million earmarked for this initiative. The collaboration will include:  
- Establishing a program to invest in reducing emissions from waste and wastewater treatment facilities,  
- Launching the Nexus country platform to integrate solutions across water, food, and energy sectors, and  
- Supporting the adoption of low-carbon technologies and practices.  

This initiative builds on the EBRD's ongoing commitment to sustainable development in Uzbekistan. Recently, the bank provided a $19.3 million loan to ACWA Power Wind Karatau for financing a 100 MW wind farm in Nukus.  

These developments underline Uzbekistan’s growing efforts to transition to a greener economy with international support.