Projects Database Map: The Green economy public policy loan program for the Republic of Uzbekistan
Remarks
-
Beneficiary
UZB
Start / End year
2022 - 2026
Sector
Climate
Sub-sector
Green economy
Project description
The Strategy for Transition to Green Economy is a policy framework aimed at achieving sustainable economic progress through the integration of green economy principles into the ongoing structural reforms. The Strategy recognizes that the ''insufficient level of energy efficiency in the economy, irrational consumption of natural resources, slow renewal of technologies, low participation of small businesses in the implementation of innovative solutions” (GoU, 2019a) hinders the attainment of the country's sustainable development goals. To remedy this, the Strategy seeks to establish a transition to a green economy based upon full compliance with the national SDGs, rational use of resources and prioritization of green instruments. AFD’s program will be based on a 5 years period (2022-2026). During this period, AFD will be financing a series of three concessional loans, the sums of which will be made available to the Uzbek Treasury depending on the progress actively achieved. A technical cooperation program (financed by EU) will simultaneously support the Uzbek institutions in their formulation of strategical framework, its translation in public finances (environmental tax, sustainable governance of public companies, green budget) and its translation in sectorial policies and programs (renewable energies, water management, biodiversity).
Expected Results
At the end of the sub-program n°1 (2022-2023), Uzbek authorities are expected to have a renewed action plan backed by a coherent budgetary and fiscal strategy. This basis will allow them to carry on the transition to a more resource and carbon efficient model which is a sustainable source of employment and growth for the Uzbek population.
Project Phases
-
Implementing agency
AFD, AFD
Main partner
France
Total budget by main partner
$ 150,000,000
Co-financing
Yes - EU
Budget of co-financing
€ 6,100,000
Total budget (original)
$ 381,100,000 (Exchange rate: 1.00000)
Loan budget
$ 375,000,000