PROSPECTS FOR THE DEVELOPMENT OF GREEN FINANCING IN UZBEKISTAN: LESSONS FROM SOUTH KOREA
DOI:
https://doi.org/10.5281/zenodo.17441896Keywords:
green finance, Uzbekistan, South Korea, sustainability, renewable energy, climate policyAbstract
As we know, The Aral Sea has shrunk to just 10% of its original size – a powerful reminder that our environmental
challenges demand urgent action. This article explores how green financing (investments in environmentally sustainable
projects) can transform Uzbekistan’s economy while protecting our natural heritage. Drawing on data from the World
Bank, ADB, and OECD, we examine our progress with green bonds and policy reforms, alongside lessons from South
Korea’s remarkable Green New Deal. While we’ve made important first steps, we need stronger regulations, clearer
investment standards, and greater private sector involvement to unlock our full potential. The path forward is clear:
with the right financial tools and policy support, Uzbekistan can become Central Asia’s leader in sustainable economic
development.
References
1. Asian Development Bank. (2022). Uzbekistan: Country partnership strategy 2022–2026 – Supporting inclusive and
green growth. Manila: ADB. https://www.adb.org
2. European Bank for Reconstruction and Development. (2022). EBRD Green Economy Transition in Central Asia.
London: EBRD.
3. Ministry of Economy and Finance of the Republic of Uzbekistan. (2023). Green growth and sustainable finance
roadmap. Tashkent: MEF.
4. Organisation for Economic Co-operation and Development. (2024). Green finance and investment in Central Asia:
Policy perspectives for low-carbon transition. Paris: OECD Publishing. https://doi.org/10.1787/green-finance-centralasia-
2024
5. United Nations Development Programme. (2023). Uzbekistan’s pathway to a green economy: Progress and challenges.
Tashkent: UNDP Uzbekistan. https://www.uz.undp.org
6. World Bank. (2023). Uzbekistan country climate and development report. Washington, DC: World Bank Group. https://
www.worldbank.org
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