The Asian Development Bank (ADB) has approved a $250 million policy-based loan to support the Government of Uzbekistan’s efforts to strengthen institutional frameworks for climate transition, enhance links and interaction of climate change adaptation priorities, and accelerate climate change mitigation actions, says the Bank's report.
The Accelerating the Climate Transition Program will support the Government of Uzbekistan in three reform areas: strengthening institutions and public financial management; enhancing climate resilience in water and land resources management, agriculture, and social protection systems; and accelerating transition to a low-carbon economy in sectors such as transport and energy.
Being ADB’s first climate programmatic intervention in Central Asia, the program is aligned with the updated nationally determined contribution, the Strategic Framework of Transitioning to a Green Economy until 2030, and ADB’s country partnership strategy for Uzbekistan, 2024–2028.
“The program prioritizes decarbonization of the economy and resilience to disasters and climate change while supporting vulnerable populations,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “Uzbekistan is among the most energy-intensive economies globally, so the program will support the government’s efforts to reduce greenhouse gas emissions per unit of gross domestic product by 35% by 2030. The reductions will be pursued by promoting renewable energy and improving energy efficiency.”
“Uzbekistan’s water resources are under acute threat from climate change and inefficient usage,” said ADB Country Director for Uzbekistan Kanokpan Lao-Araya. “This program supports the enabling legislation for investments in irrigation modernization and climate-smart water management to safeguard water security and combat the accelerating desertification that endangers fragile ecosystems.”
“The program was designed to increase the government’s capacity to tackle complex climate change challenges through enhanced policy coordination, targeted allocation of budget resources, and strengthened monitoring and accountability for climate related expenditures and indicators,” said ADB Principal Public Sector Specialist Hanif Rahemtulla.
Uzbekistan joined ADB in 1995, and the bank has committed loans, grants, and technical assistance amounting to $12.5 billion to help achieve a prosperous, inclusive, resilient, and sustainable future for the country.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members - 49 from the region.
CentralasianLIGHT.org
November 20, 2024