Baku (TDI): Uzbekistan has signed a memorandum with Germany’s International Cooperation Society (GIZ) to bolster green industrialization through a €3 million grant.
The agreement was finalized during the 29th UN Climate Change Conference (COP29) in Baku, Azerbaijan.
The initiative, backed by Germany’s €9 million allocation, aims to assist Uzbekistan’s private sector in transitioning to a green economy.
The project will support economic reforms, sustainable development, and capacity building in adopting environmentally friendly industrial practices.
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Key aspects include expertise in measuring and certifying greenhouse gas emissions, enabling Uzbekistan’s participation in international carbon trading mechanisms, and aligning with the EU’s Cross-Border Adjustment Mechanism (CBAM).
The program also focuses on promoting resource-saving technologies, circular economy models, and sustainable production within green industrial parks.
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The €3 million grant will complement an ongoing initiative titled “Support to the Private Sector and Advice on Economic Policy in Uzbekistan.”
The partnership highlights Germany’s commitment to advancing sustainable practices in Central Asia while supporting Uzbekistan’s ambitions for an eco-friendly industrial future.
