BAKU, Azerbaijan, November 12. Uzbekistan will participate in a $720 million international climate investment program aimed at accelerating industrial decarbonization, promoting green technologies and strengthening climate resilience in developing economies.
According to Uzbekistan's National Committee on Ecology and Climate Change, the Transformation Pathways Initiative (TPI) was approved by the Board of the Green Climate Fund (GCF) in October 2026 and presented at the 31st UN Climate Change Conference (COP31) in Antalya, Türkiye, on November 11.
The total financing package amounts to $720 million, of which $187 million will be provided by the GCF. The remaining $533 million is expected to come from co-financing.
Uzbekistan is one of 10 countries selected to participate in the initiative, which is being implemented with the involvement of the United Nations Industrial Development Organization (UNIDO) and international investment firm Finance in Motion.
The program is designed to provide businesses with greater access to long-term climate financing for energy-efficient technologies, renewable energy projects, greenhouse gas emission reductions, and the modernization of industrial production processes.
Priority areas include industrial enterprises, small and medium-sized businesses, and the development of climate-resilient agri-food systems.
Funding will be provided through direct investments and loans to businesses, including through local financial institutions. The initiative also provides technical assistance in preparing investment projects, assessing climate impacts and improving companies' investment attractiveness.
At the global level, the program is expected to reduce greenhouse gas emissions by more than 31 million metric tons of carbon dioxide equivalent and strengthen climate resilience for over 1.4 million people.
For Uzbekistan, participation in the initiative is expected to open up additional opportunities to attract international capital for industrial modernization, resource-efficient technologies and green economy development.
Potential areas of cooperation include improving energy efficiency in the textile, chemical and construction industries, expanding distributed renewable energy generation, introducing circular economy technologies and modernizing the agro-industrial sector.
Uzbekistan's National Committee for Ecology and Climate Change is working with international partners to explore opportunities for developing a pipeline of investment projects under the program. The process will involve relevant ministries, commercial banks and industrial enterprises.
The initiative is aligned with Uzbekistan's national priorities of reducing greenhouse gas emissions, improving energy efficiency, and transitioning to a low-carbon economic model. Specific financing allocations for participating countries will be determined as investment projects are developed and selected.
