Experts of the Institute of Forecasting and Macroeconomic Research (IFMR) have studied the world experience of blended finance and the work being done in Uzbekistan.
Since 2015, Uzbekistan has been implementing the Sustainable Development Goals (SDGs) put forward by the UN and on the global agenda until 2030.
In the development strategy, a total of 120 billion dollars, including 70 billion dollars of foreign investment, is set to be attracted to the economy by 2026.
Blended finance (BF) refers to the combination of public and private funds through a common investment program or deal, and the parties complement each other with their experience.
Today, developing countries have used blended finance to attract investments in the amount of about 172 billion dollars for sustainable development goals.
Although the world has accumulated enough experience in mixed financing, the first steps in this field are being taken in Uzbekistan.
Masdar, one of the UAE's largest green energy companies, has attracted investments totaling $154 million using mixed financing to build wind and solar power plants in Uzbekistan.
The fund has been by the preferential loans provided by the International Finance Corporation (IFC), the Asian Development Bank (ADB), the Canadian Climate Fund, the Japan International Cooperation Agency (JICA), and the Dutch Business Development Bank.
The European Union, Finland, Norway and the European Investment Bank, Kreditanstalt fur Wiyederaufbau Bank (Germany) have also allocated a total of 163.5 million dollars to the UN Multilateral Trust Fund for Human Security for the Aral Sea region through BF.
These financial resources will be directed to provide the population with clean drinking water, quality medical services and development of entrepreneurship.
Although the concept of mixed financing appeared not long ago, it is developing rapidly in Uzbekistan.
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