LocationsUNDP and Partners discussed the opportunities and the challenges for financing green development in Uzbekistan
November 21, 2025
Tashkent, Uzbekistan - November 19, 2025. The United Nations Development Programme (UNDP) jointly with the Ministry of Economy and Finance held a roundtable event dedicated to the presentation and discussion of the Green Development Finance Assessment (Green DFA) and the Concept of the Green Finance Strategy for Uzbekistan developed under the joint initiative of UNDP and the Ministry of Economy and Finance supported by the European Union and French Development Agency (AFD).
The event brought together over 50 participants, including the representatives from relevant ministries and government agencies, the private sector, research institutions, as well as development partners, IFIs and others stakeholders.
The roundtable started with the presentation of the upcoming National Programme for Enhancing the Green Finance System in Uzbekistan, aimed at establishing a systematic approach to “green finance” as part of shaping a “green” economy and effectively combating global climate change in the country.
Mr. Javlonbek Khakimov, Head of the Division of Green Economy Department of the Ministry of Economy and Finance, noted that: “This programme will be an important step in the development of sustainable financing mechanisms. It includes: the introduction of green budgeting and budget expenditure labeling, optimization of public investments for climate finance, and sustainable public procurement, attraction of soft loans, subsidies and grants for environmental initiatives, development of green bond markets and environmental finance systems”.
Following this, key findings of the Green Development Finance Assessment for Uzbekistan were presented by Ms. Radhika Lal, UNDP’s International expert on Sustainable and Green Finance.
Being a diagnostic tool, Green DFA seeks to provide a comprehensive assessment of existing financial flows channeled to green development priorities in Uzbekistan and to identify the needs and the opportunities for more effective mobilization of additional finance. It also provides an institutional ecosystem analysis, including the policy and regulatory environment and an assessment of de-risking and development financing facilities and mechanisms. The presentation of the financial landscape analysis of public and private investments in priority sectors, was followed by a detailed discussion of the main findings and recommendations of the Green DFA report.
The Green DFA laid the foundation for the development of the Green Finance Strategy for Uzbekistan. As noted by Ms. Akiko Fujii, UNDP Resident Representative in Uzbekistan: "The findings and recommendations of the Green DFA will form the basis for the development of a holistic Green Finance Strategy, better aligning existing financing policies with the medium- and long-term national green priorities of Uzbekistan, mobilizing both public and private resources, prioritizing key policies, and ensuring that financing instruments remain coherent and sustainable".
The Concept of the Green Finance Strategy for Uzbekistan was presented to participants. The development of the Green Finance Strategy is a direct response to Uzbekistan’s national priorities as outlined in the “Uzbekistan-2030” Strategy and the urgent need to finance the country’s green transition. The proposed Green Finance Strategy is conceived not as a standalone policy document, but will be designed to serve as an “umbrella” framework and financial implementation mechanism supporting Uzbekistan’s overarching national strategies including the Uzbekistan Green Transition Strategy 2030, the Green Growth Strategic Framework, the recently approved Nationally Determined Contributions (NDC 3.0), the Sectoral and Regional Adaptation Plans, and the Long-term Decarbonization Strategy.
During the discussion and Q&A session, roundtable participants provided feedback and comments, validating the key findings of the Green DFA. The event provided a valuable opportunity to present and engage with key partners and stakeholders on the Government’s ongoing and upcoming initiatives to apply an integrated approach to financing green priorities and objectives, as well as strengthening the green finance ecosystem in Uzbekistan.
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Note: The project “Support to Financing Green Development in Uzbekistan” is a joint initiative of UNDP and the Ministry of Economy and Finance of the Republic of Uzbekistan funded by the European Union through the French Development Agency. Overall objective of the project is to facilitate the dialogue and coordinate activities for operationalization of the integrated approach to financing green development in Uzbekistan, along with building a corresponding capacity.
