Tashkent, Uzbekistan (UzDaily.com) -- A seminar was held in Tashkent for specialists from the Central Bank and commercial banks of the Republic of Uzbekistan, dedicated to the issues of financial support for green investments by households in rural areas of the country. 

The seminar was organized within the framework of the implementation of the project of the United Nations Development Program in Uzbekistan and the Ministry of Construction and Housing and Communal Services of the Republic of Uzbekistan, funded by the Global Environment Facility (GEF) “Assistance in the development of construction of energy-efficient rural housing in Uzbekistan.” 

The project aims to transition Uzbekistan’s rapidly growing regional housing construction sector to a more sustainable development path that reduces greenhouse gas emissions through the design, piloting and development of a green lending mechanism for energy efficient technologies and materials, which will increase demand for energy efficient and low-carbon housing among population of Uzbekistan. The goal of the project is to provide the population of the regions of Uzbekistan with improved and affordable living conditions that do not harm the environment.

It is important to note that as part of the implementation of this project, agreements were concluded between the Extra-budgetary Intersectoral Energy Saving Fund under the Ministry of Energy of the Republic of Uzbekistan and 10 commercial banks to provide UNDP/GEF subsidies to cover from 15% to 37.5% (depending on the type of product) of green loans allocated for the purchase of renewable energy devices and energy-efficient technologies/materials.

As noted at the seminar, the UNDP/GEF project has been implemented since 2017. Its significant achievement was the development of projects for 24 types of energy-efficient houses, which became the impetus for the massive construction of energy-efficient and low-carbon housing throughout the republic. Moreover, the project previously provided financial and technical assistance for the construction of 1,358 energy-efficient and low-carbon houses and apartments.

The seminar provided participants with detailed information about the implementation of the project and its role in supporting the population of the regions of the republic and protecting the environment, opening new prospects for the development of cooperation. Similar seminars were held for representatives of the banking sector in Bukhara, Jizzakh, Kashkadarya, Namangan and Surkhandarya regions.