Tashkent, Uzbekistan (UzDaily.com) — The National Agency for Prospective Projects has registered the issuance of green bonds by the "Uzbekistan Mortgage Refinancing Company" for 50 billion soums.

This issuance marks the first official issuance of green bonds, carried out based on the amendments and additions made in June 2024 to the Rules for the Issuance of Securities and State Registration of Securities Issues (reg. No. 2000-10 from 7 June 2024) and the Methodological Requirements for the Placement and Circulation of Corporate Bonds for Projects Aimed at Developing a Green Economy, as approved by the Agency.

The funds raised from this bond issuance will be used to finance the modernization of buildings. To achieve green goals, the Company will focus on financing and/or refinancing green loans for repairs provided by commercial banks, as well as creating opportunities for bank clients to carry out renovation work using energy-efficient building materials.

The first green corporate bonds issued by the Company received a positive external evaluation from the AIFC Green Finance Center for compliance with the Green Bond Principles of the International Capital Market Association and a certification of compliance with green standards for the core program of this issuance.