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On April 19th 2022, the Uzbek Ministry of Finance and Agence Française de Développement (AFD) signed an agreement to foster the country’s green economy transition.
The aim of the collaboration is to prepare, finance and implement a new strategic framework that puts the emphasis on green economy. This strategy aims to capture the dynamics generated by the worldwide shift toward the green economy, to preserve environment in Uzbekistan and to adapt to climate change.
The collaboration is envisaged for 5 years. A first loan agreement was signed on April 19th 2022, for €150 million. It will be made available to the Uzbek Treasury based on the progress actively achieved. It is directed to the design of an action plan backed by a coherent economic, budgetary and fiscal strategy.
A technical cooperation program will simultaneously support the Ministry of Economy and Poverty Reduction and the Ministry of Finance in their formulation of a strategic framework, its translation in public finances (tax policy, sustainable governance of public companies, green budget) and its translation in sectorial policies and programs (renewable energies, etc.).
Find out more about AFD's action in Uzbekistan
The signature was attended by Mr. Odilbek Isakov, Deputy Minister of Finance of Uzbekistan, Her Excellency Mrs. Aurelia Bouchez, Ambassador of France to Uzbekistan and Mr. Vincent Caupin, AFD Director for Central Asia.
Mr. Odilbek Isakov said: “Transitioning to green economy is not something that we choose, we must do it. In our next development strategy, the importance of green economy will be mentioned several times. In order to reach this objective, we lined up several projects and this support received from AFD is fundamental to proceed. This is only the beginning as we will continue working together with AFD in this direction.”
Mrs. Aurelia Bouchez said: “I am very pleased to sign this agreement today. I very much welcome the fact that his Excellency the President of Uzbekistan puts the green economy among its priorities. France places as well green issues at the top of its agenda. This is an additional milestone to our high quality bilateral relationship based on trust and friendship.”
Mr. Vincent Caupin said: “Today’s agreement materializes a strong partnership between Ministry of Economy, Ministry of Finance and AFD. The program will contribute to Uzbekistan’s transition to a more resource and carbon efficient model. It can both encourage employment and growth for the Uzbek population while limiting its impact on the environment.”
Press contact: Irodakhon Abdul-Kodirova | 998 90 958 00 21