Uzbekistan: Uzbekistan Green and Resilient Market Economy Program

proposed

The proposed Program will support policy and governance reforms through: (i) sectoral interventions in the energy, and state-owned enterprise (SOE) sectors to improve resource and energy efficiencies and enhance resilience; (ii) enhancements in public administration to stimulate “green” procurement; and (iii) clear and transparent rules for the creation and trade of carbon credits to scale up private finance in climate mitigation and through the establishment of a measurement, reporting, and verification (MRV) system. The transition to low-carbon, resource-efficient, resilient, and socially and environmentally sustainable economic growth is central to Uzbekistan's development agenda, as outlined in its “Strategy for Transition to a Green Economy for the Period 2019-2030” (hereinafter referred to as the “Green Economy Strategy”) and supports GoU's more ambitious climate targets in its second Nationally Determined Contribution (NDC, 2021). Additionally, the Program aligns with the priorities of the Uzbekistan-2030 national development strategy, adopted in 2023, which promotes the green economy transition by increasing the use of renewable energy and improving energy efficiency. The Program will be co-financed by the World Bank (WB), as the lead financier.