The World Bank has granted Uzbekistan funds amounting to $46.25mn to back efforts aimed at cutting industrial emissions.
A 2023-2028 nationwide project to be implemented jointly by Uzbekistan and the international financial institution has two components:
- A reduced emissions purchase agreement with $20mn in financing;
- An agreement on the purchase of mitigation results with financing in the amount of $25mn.
Under the first agreement, the agreed price of reduced carbon emissions will be $15/tonne. Under the second, it will be $30/tonne.
In addition, $1.25mn will be allocated to the Global Fund for Adaptation and Emission Reduction.
Another $2mn will be spent on the creation of a greenhouse gas registry and the development of a monitoring, reporting and verification system (MRV).
By July 1, 2024, the government plans to introduce a system of green taxonomy for the ecological classification of economic activities.
Related Articles
Report says explosion hit pipeline that delivers Turkmen gas to Russia, but Turkmenistan no longer sells gas to Moscow
Ukrainian outlet Kyiv Post on August 2 reported sources within Ukraine's Main Military Intelligence Directorate (GUR) as stating that an explosion in Russia disabled a section of ... more
New agreement provides for more than 1,000 weekly flights between Uzbekistan and Russia
Uzbekistan and Russia have struck an agreement under which the number of weekly direct flights between the two countries can be more than tripled to more than 1,000 per week, according to ... more
Construction work on $4.6bn Trans-Afghan Railway could reportedly be under way within six months
Construction work on the proposed Trans-Afghan Railway could be under way within six months, while the project could cost around $4.6bn to deliver and cut shipping transit times from Uzbekistan to ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
23 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago