AIIB to allocate $250M to Uzbekistan to support green economy

The Asian Infrastructure Investment Bank (AIIB) will allocate $250 million to support green and inclusive economy in Uzbekistan, Report informs via Uzbek media.

The project will help promote economic growth in accordance with the national development strategy "Uzbekistan-2030" and the updated Nationally Determined Contribution (NDC), under which the republic should reduce greenhouse gas emissions per unit of GDP by 35% below 2010 levels by 2030.

The project will address areas such as improving water and land resource management; accelerating the transition to low-carbon solutions in energy and transport sectors.

Also, within the project framework, special attention will be paid to implementing renewable energy initiatives that benefit vulnerable segments of society.