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    Uzbekistan

    World Bank supports Uzbekistan's transition to a sustainable green economy

    World Bank supports Uzbekistan's transition to a sustainable green economy

    Over the last thirty years, Uzbekistan has witnessed substantial economic growth. Recent macroeconomic data shows the country's economy rebounding to 7.2% in 2021, after a 1.9% contraction in 2020, and maintaining a 5.5% growth rate in 2023, outperforming many other nations in the Europe and Central Asia region.

    Photo: Over the last thirty years, Uzbekistan has witnessed substantial economic growth.
    Source: Daryo

    However, Uzbekistan faces challenges, particularly concerning high energy and carbon intensity. This leaves it vulnerable to external trade policies as global demand for carbon-intensive products decreases due to the adoption of climate-friendly agendas. To navigate this changing global policy landscape and establish a sustainable economic foundation, Uzbekistan needs to embrace a greener economic model that integrates environmental and climate policies.

    Recognizing that its emission and resource-intensive growth model is unsustainable, the Uzbekistan government has initiated a series of structural reforms to transition towards a greener and more inclusive growth framework. Nevertheless, there are barriers hindering the effective integration of green growth principles into policies, strategies, and investment decisions, including a lack of knowledge, capacity, and public awareness.

    To address these challenges, the World Bank and the Ministry of Economic Development and Poverty Reduction (MEF) have collaborated to support Uzbekistan's transition to a green economy. They have employed a four-pronged approach, including joint stakeholder engagement, joint development partner coordination, joint communication, and joint human and financial resource mobilization.

    This collaboration has led to the development of a strategic green growth framework approved by the President of Uzbekistan in December 2022. This framework serves as a roadmap for the country's transition to a green economy and climate action.

    Photo: The view of Tashkent city, Uzbekistan
    Source: World Bank

    Furthermore, this joint effort has raised awareness and built capacity. The World Bank, alongside MEF and the Regional Environmental Center for Central Asia (CAREC), organized 11 policy dialogue roundtables on green growth and climate change, bringing together over 700 policymakers, experts, and stakeholders. These roundtables aimed to enhance awareness and technical capacity regarding green economy transition priorities.

    The collaborative approach has effectively made the green growth agenda a core national development priority at all levels of the Uzbekistan government. It underscores the value of multistakeholder partnerships in advancing a sustainable and inclusive growth model for Uzbekistan.

    As a result, green economy considerations are now central to the Uzbekistan government's New Development Strategy 2022-26 and the World Bank Country Partnership Framework 2022-26. This recognition has contributed to the approval of the Resilient Landscape Project by the World Bank Board in June 2022.

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    30.10.2023, 14:27   Comments (0)   1691
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