Uzbekistan: Uzbekistan Green and Resilient Market Economy Program (AIIB-001011)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Uzbekistan
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 19, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Uzbekistan
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
  • Energy
  • Industry and Trade
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 1,300.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ AIIB website

Updated in EWS Sep 15, 2025

Disclosed by Bank Sep 2, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As state by the AIIB, the objective of the programme is to help the Government of Uzbekistan (GoU) implement key policy and governance reforms aimed at accelerating the country's transition to a green economy

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.

The MOEF is the main implementing agency and is thus responsible for implementing the program supported by the proposed operation. The MOEF will coordinate with other government agencies to implement the operation. AIIB and WB will jointly conduct regular policy dialogue and monitor implementation.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

According to the AIIB, the World Bank will invest US$ 800 million in the programme.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

AIIB Team Leader:

Emil Zalinyan - Senior Investment Officer
Email: emil.zalinyan@aiib.org

World Bank Team Leader:

Pinar Yasar - Senior Economist
Email: pyasar@worldbank.org

Borrower & Implementing agency - Ministry of Economy and Finance of the Republic of Uzbekistan:

Jamshid Kuchkarov - Deputy Prime Minister, Minister of Economy and Finance of the Republic of Uzbekistan
Email: info@mf.uz

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.aiib.org/en/contact/information-request/index.html

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides Òan opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIBÕs failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.Ó Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html

How it works

How it works