• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00192 0%
  • TJS/USD = 0.09135 -0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.42%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00192 0%
  • TJS/USD = 0.09135 -0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.42%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00192 0%
  • TJS/USD = 0.09135 -0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.42%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00192 0%
  • TJS/USD = 0.09135 -0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.42%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00192 0%
  • TJS/USD = 0.09135 -0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.42%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00192 0%
  • TJS/USD = 0.09135 -0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.42%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00192 0%
  • TJS/USD = 0.09135 -0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.42%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00192 0%
  • TJS/USD = 0.09135 -0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.42%
22 January 2025

Viewing results 1 - 6 of 8

Mirziyoyev: Central Asia Can Become a Global Green Energy Hub

President Shavkat Mirziyoyev of Uzbekistan delivered a keynote address at the Sustainability Week Summit in Abu Dhabi on January 14. The event, hosted by UAE President Sheikh Mohammed Al Nahyan, gathered global leaders, including the presidents of Azerbaijan and Kazakhstan, the prime ministers of Italy, Malaysia, and Finland, as well as heads of international organizations and financial institutions. The Urgency of Transitioning to a Green Economy In his speech, Mirziyoyev emphasized the critical need for a green economic transition, stating: “The diversification of energy sources and a drastic reduction of hydrocarbons are now critical conditions for mitigating climate change and ensuring global security.” Mirziyoyev noted that Uzbekistan has declared 2025 as the “Year of Environmental Protection and Green Economy.” The country’s strategic goal, under the "New Uzbekistan" framework, is to achieve sustainable economic growth through environmental sustainability and resource conservation. Low-Carbon Development Goals Outlining Uzbekistan’s low-carbon development strategy, Mirziyoyev announced plans to integrate green finance into 50% of investment projects over the next five years; reduce greenhouse gas emissions by 35% by 2030; "Green" at least 30% of urban areas; and ensure that 100% of agricultural lands adopt water-saving technologies. Mirziyoyev also highlighted Uzbekistan’s achievements in renewable energy, stating: “In the past five years, we have attracted almost $20 billion in foreign investments, commissioning modern energy capacities of 9.6 gigawatts. This includes 14 solar and wind power plants with a total capacity of 3.5 gigawatts.” Uzbekistan is currently collaborating with foreign partners on over 50 major energy projects worth $26 billion, aiming to reach a total energy capacity of 24 gigawatts by 2030. By that time, renewable energy is expected to account for 54% of the country’s total energy generation. Regional Collaboration and Global Ambitions Mirziyoyev underscored the importance of regional cooperation, saying: “We aim to turn Central Asia into one of the global centers for green economy and clean energy.” He highlighted a multilateral agreement with Kazakhstan and Azerbaijan to export green energy to Europe and restore the Great Silk Road through energy connectivity. The president shared success stories of partnerships with companies like Masdar, which have generated 1.5 gigawatts of renewable energy in Uzbekistan. Additional projects are underway to create 1.6 gigawatts of generating capacity and build energy storage systems with a capacity of about 520 megawatts per hour. He also noted Uzbekistan’s untapped renewable energy potential, citing the ability to produce 500 gigawatts of solar, 100 gigawatts of wind, and 10 gigawatts of hydro energy. Advancing Green Research and Innovation Mirziyoyev referenced the establishment of the Green University in Tashkent - which will serve as a hub for global scientific collaboration - and proposed creating an international research network focused on combating land degradation and desertification. He also reiterated Uzbekistan’s initiatives introduced at COP-28 and COP-29, including the creation of an International Center for Damage and Loss Assessment and a regional hub for water-saving technologies. “We are ready to begin practical work in these areas with all our partners,” he stated. A Nationwide Green Movement Concluding his address,...

Uzbekistan to Launch “Eco-Active Citizen” Project for a Greener Future

The Ministry of Ecology, Environmental Protection, and Climate Change of Uzbekistan, in collaboration with the Ministry of Digital Technologies, has announced plans to launch the “Eco-Active Citizen” project by June 1, 2025. This initiative is part of the nationwide “One Million Green Families” movement and integrates with the “Healthy Lifestyle” platform. It is outlined in the draft Presidential Decree “On the State Program for the Implementation of the Strategy ‘Uzbekistan – 2030,’” which places significant emphasis on environmental protection and fostering a “green economy.” The project seeks to promote an ecological lifestyle and enhance environmental awareness among the population. Citizens will be encouraged to take actions such as planting trees, using public transportation, walking 10,000 steps daily, reducing waste, and transitioning to electric vehicles. Additional recommended measures include installing solar panels, utilizing energy-saving materials, and conserving electricity, gas, and water. Active participation in public environmental activities will also be key. Participants in the “Eco-Active Citizen” program will qualify for public service discounts, lower interest rates on consumer loans, and may even receive environmentally friendly vehicles such as bicycles or scooters. Families in which all members achieve “eco-active” status will be recognized as “Green Families” and will have the opportunity to participate in an annual lottery to win an electric car. Neighborhoods (mahallas) with over 50% of households classified as “Green Families” will earn the title of “Green Neighborhoods” and will receive additional environmental benefits, such as designated waste collection sites, tree planting initiatives, and green public parks. Cities or villages with more than 50% “Green Neighborhoods” will be officially recognized as “Green Cities,” “Green Villages,” or “Green Auls” (fortified villages). The Ministry of Ecology underscored the environmental impact of individual actions. For instance, one car emits an estimated 4.6 tons of carbon dioxide annually, whilst walking 10,000 steps per day can prevent up to 1.5 tons of waste. Additionally, conserving 100 cubic meters of natural gas can prevent 2 tons of carbon dioxide emissions. These efforts aim to establish sustainable “green cities” while promoting environmentally responsible tourism. In a related development, The Times of Central Asia previously reported that Uzbekistan is preparing a draft national program to reduce plastic pollution for 2025-2027.

Central Asia’s Role in Europe’s Energy Future: Insights from Samuel Doveri Vesterbye

The Times of Central Asia sat down with Samuel Doveri Vesterbye, Director of European Neighbourhood Council, a research organization funded by the EU and by Member States, to discuss prospects for the further development of the EU's relations with Central Asia. TCA: How significant is Central Asia for Europe's energy diversification strategy, especially in light of the need to reduce dependency on Russian gas? Europe needs energy. Since the revolution in shale gas production and liquefied natural gas (LNG) transport, it’s clear that European energy has become more diversified, particularly since Russia’s war against Ukraine. Reliance on Russia has decreased, while importation of U.S., African and Asian LNG has increased. Pipeline gas from Azerbaijan and renewable energy are both important and rising sources of diversification. The problem is that Europe doesn’t only need energy; it needs inexpensive energy, preferably in terms of pipeline gas. This is why the Caspian region, home to some of the world’s largest natural gas reserves, is important. That’s one significant reason for Europe’s renewed interest in the region. TCA: What are the key energy projects connecting Central Asia to Europe, and what obstacles do they face in becoming viable alternatives? In 2022–2023, the EU and the European Bank for Reconstruction and Development (EBRD) financed and conducted the biggest connectivity study about Central Asia to date. This study outlined the full capacity, potential, and challenges of trans-Caspian infrastructure and regulatory connectivity. It has become a key roadmap for all governments involved, as well as for the private sector and international investors in renewables, gas, transport, and other types of logistical infrastructure. In January and February 2024, the EU, together with international financial institutions, provided over €10 billion in low-interest loans and grants for the construction of energy and transport infrastructure cross-regionally. This amount represents over 50% of the investment needs estimated and outlined in the EBRD study. It is a strong indication of Europe’s political and financial dedication towards the region. TCA: How can Central Asian economies benefit from closer economic ties with Europe, particularly through energy trade? Central Asia has significantly increased its economic engagement with the European Union. In less than a decade, the EU has become Kazakhstan’s biggest trade partner in the world, ahead of China, Russia and the United States. Uzbekistan is taking a similar direction to Kazakhstan, and is about to sign an Enhanced Partnership and Cooperation Agreement (EPCA) with Brussels covering energy, politics, security, trade, and natural resources among many other issue-areas. For Central Asia, its new relationship with the EU is strategically intelligent, as the region ceases to be only a part of so-called “Chinese transit trade”. TCA: What economic reforms are necessary in Central Asia to align with European standards and attract more investment in energy sectors? The relationship with the EU allows Central Asia to increase its trade and gain new technology as it also benefits from industrialization. Both Europe and Central Asia are full of small and medium-sized nations who are often under pressure from great...

Fueling Growth: IFC Strategic Initiatives for Sustainable Development in Central Asia – An Interview With Hela Cheikhrouhou

With its headquarters in Washington, D.C. the International Finance Corporation (IFC) was established in 1956 as the private-sector arm of the World Bank. The institution offers advisory, and asset-management services to promote investment in developing countries. Recent ventures in Central Asia include solar power projects in Uzbekistan and Kyrgyzstan, and an entrepreneurship scheme for women and young people in Tajikistan. TCA spoke with Hela Cheikhrouhou, IFC Vice President for the Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan about the IFC’s work in Central Asia.   TCA: Can you please give us an overview of IFC's performance in Central Asia for fiscal year 2024 (July 1, 2023, to June 30, 2024)? IFC had a pivotal year in Central Asia, making strides in sustainable development and inclusive growth across the region. Our efforts concentrated on climate finance, infrastructure, agriculture, and supporting smaller businesses. By coupling investments with advisory support, we helped expand the role of the private sector, creating jobs, promoting financial inclusion, strengthening infrastructure, and supporting the region's green transition. In the fiscal year 2024, IFC committed over $1 billion to Central Asia. This includes about $400 million in long-term financing from our own account, $600 million in mobilization, and $35 million in short-term trade and supply-chain finance to facilitate trade flows. Alongside these financial commitments, we engaged in advisory projects focused on improving financial inclusion, developing innovative public-private partnerships (PPPs), and advancing climate initiatives and gender equality. Our results this year underscore our commitment to fostering sustainable, inclusive growth, and enhancing the resilience and sustainability of Central Asian economies.    TCA: Can you highlight some of the IFC’s key achievements in Central Asia this year? In addition to the strong financial commitments mentioned earlier, IFC expanded its presence in various sectors, including finance, capital markets, renewable energy, agriculture, and infrastructure. Through our advisory services, we helped structure impactful PPPs at the sectoral level. A major focus this year has been strengthening local financial markets. IFC invested $228 million across ten financial institutions in Kazakhstan, the Kyrgyz Republic, Tajikistan, and Uzbekistan. Up to half this amount was dedicated to supporting women entrepreneurs and rural enterprises. We also helped these financial institutions expand portfolios related to their micro, small, and medium enterprise (MSME) businesses, advance climate finance, foster digital transformation, and issue the region’s first sustainability, social, and green bonds. Supporting MSMEs has enabled entrepreneurs to grow their businesses and generate employment. In the past fiscal year alone, IFC-supported projects created around 35,000 direct jobs, including opportunities for over 13,000 women across the region. These efforts have been further bolstered by targeted investments and projects in individual countries across the region. In Uzbekistan, IFC, together with the World Bank, financed a new solar plant equipped with the country’s first battery energy storage system. Once completed, the plant is expected to provide electricity access to around 75,000 households in the Bukhara region. As part of its broader support for the Uzbek government’s efforts to reform its chemical sector, IFC assisted the State Asset Management Agency in privatizing Ferganaazot,...

World Bank Report Outlines Path to Drive Tajikistan’s Green Transition and Economic Growth

On November 7, the World Bank Group published the Tajikistan Country Climate and Development Report (CCDR), highlighting the transformative potential of climate action for Tajikistan's economy. The report suggests that addressing climate risks can drive economic renewal, create jobs, and enhance resilience against the rising frequency of extreme weather events caused by climate change. Ozan Sevimli, World Bank Group Country Manager for Tajikistan, emphasized the urgency of a strategic shift: “Tajikistan urgently needs an economic reset to tackle its numerous development challenges and the growing impacts of climate change that threaten future progress. The CCDR provides a roadmap for accelerating the transition to a green economy, supporting long-term growth.” A key finding of the report is the importance of mobilizing private-sector financing to supplement Tajikistan's limited public resources. This financing will be crucial in securing the nation’s green transition and ensuring water, food, and energy security. Despite ranking 130th globally in greenhouse gas emissions, Tajikistan is highly vulnerable to climate change impacts, notes Bahodur Sheralizoda, Chair of the Environmental Protection Committee under the Tajik government: “Although our contribution to global emissions is minimal, we are one of the most climate-vulnerable countries in the world. The CCDR advises the government to improve production efficiency, foster innovative technologies, and create green jobs to reduce our susceptibility to climate-related challenges.” The report warns that Tajikistan already faces high risks of floods, earthquakes, and landslides, with potential infrastructure and agricultural losses that could lower GDP by 5-6% by 2050. The strategic Vakhsh River Basin, which produces 90% of the country’s electricity, underscores the dual challenges of climate and development. Annual costs of land degradation are estimated at $325 million, with further increases anticipated. Additionally, air pollution remains a major health risk, accounting for 84 deaths per 100,000 people—Central Asia’s second-highest rate. A green transition could deliver substantial benefits. By 2050, reduced healthcare costs from lower air pollution, fewer road accidents, and improved road conditions could save over $3.5 billion. Investments in renewable energy, including hydro, solar, and geothermal, as well as in energy efficiency, promise new employment opportunities across sectors. The report advises the Tajik government to fast-track low-carbon development to strengthen economic growth, energy security, export potential, and job creation, all while enhancing air quality. Achieving these goals will require significant investments: Tajikistan needs around $17 billion, in addition to the $79 billion required for the government’s reform agenda from 2025 to 2050. Private sector investments, particularly in energy, industry, and agriculture, will be essential. Recognizing that the financial needs for this transformation exceed domestic resources, the report underscores the importance of external support. Tajikistan will need substantial technical and financial assistance from international bodies, climate funds, and development partners to fulfill its climate and development goals.

Eco-Activists Tackle Dust Storms on Karakalpakstan’s Aral Sea

Forestry workers and ecological activists in Uzbekistan’s northwestern Karakalpakstan region have begun planting desert plants on dried up sections of the Aral Sea.  Salt and dust carried in the wind cause significant damage to areas adjacent to the Aral Sea and their inhabitants. Every year more than 100 million tons of salt, dust and sand are blown from the bottom of the former Aral Sea and mix into the air.  Up until the late-1990s, the land surrounding the Aral Sea was still cotton fields; today, it’s largely an expanse of salinized grey emptiness. The desiccation of the landscape has led to these vast toxic dust-storms that ravage around 1.5 million square kilometers. Spreading nitrates and carcinogens, these storms - visible from space - used to occur once every five years, but now strike ten times a year. Once a thriving agricultural center, Karakalpakstan, home to the remaining section of the so-called Large Aral Sea, is now one of the sickest places on Earth. Respiratory illness, typhoid, tuberculosis and cancers are rife, and the region has the highest infant mortality rate in the former USSR. “This year we plan to create green plantations in the most vulnerable places, where the winds with salt and sand come from,” said Zinovy Novitsky, a project manager from the Research Institute of the State Forestry Committee. “We plan to plant trees on 150-200,000 hectares. The country is introducing an effective policy to combat this problem.”  Between 2018 and 2023, 1.7 million hectares of forests were planted on the bottom of what used to be the Aral Sea. To date, forestry enterprises have collected and prepared for sowing 192 tons of desert plant seeds, including 71 tons of saxaul seeds. Similar plans are being undertaken across the border in Kazakhstan, where, according to the International Fund for saving the Aral Sea in the Republic of Kazakhstan, the so called “Green Aral Sea” being created will make a massive contribution to the process of achieving carbon neutrality. “One saxaul retains up to 4 tons of sand, 1 hectare of four-year-old saxaul absorbs 1,158.2 kg of carbon dioxide and releases 835.4 kg of oxygen per year, [whilst] the shrubby plant, salsola richteri kar absorbs 1,547.8 kg of carbon dioxide and releases 1,116.4 kg of oxygen per hectare. Accordingly, 1.1 million hectares will consume about 1.3 million tons of carbon dioxide.”