World Bank aid - The Times Of Central Asia

Viewing results 1 - 6 of 6

World Bank aid Green economy

World Bank Awards Uzbekistan $7.5 Million in Carbon Credits for Emissions Reduction

On 21 June, it was announced that the Uzbekistan is the first country in the world to receive payment from the World Bank for reducing carbon emissions through a policy crediting program. The pioneering project known as the Innovative Carbon Resource Application for Energy Transition (iCRAFT) was designed to support Uzbekistan in implementing energy efficiency measures, phasing out energy subsidies, and transitioning to cleaner energy sources. Under the iCraft project, the World Bank awarded Uzbekistan a $7.5 million grant for cutting 500,000 tons of carbon emissions. Congratulating the country on this significant achievement, Marco Mantovanelli, the World Bank Country Manager for Uzbekistan, said: “This initiative is the world’s first to leverage climate finance in support of policy reform. The iCRAFT project aims to transition from individual transactions to program-level carbon trade interventions. We are eager to see how this pilot can set a precedent for reforms in other sectors in Uzbekistan and for other countries to follow its example.” Jamshid Kuchkarov, Deputy Prime Minister and Minister of Economy and Finance of Uzbekistan, highlighted the significance of this climate finance transaction: “The first payment transferred under the iCRAFT Project marks a key step for Uzbekistan towards reducing energy subsidies and achieving cost recovery in the energy sector. It also contributes to the government’s broader efforts for a green economy to foster economic growth and reduce poverty.” The payment is the first of several anticipated payments under the Emissions Reduction Payment Agreement (ERPA) concluded between the government of Uzbekistan and the World Bank as part of the iCRAFT Project. Under the agreement, Uzbekistan could receive up to $20 million in grants for verified emission reductions or carbon credits generated through its energy subsidy reforms. Uzbekistan aims to reduce 60 million tons of CO2, with iCRAFT set to purchase approximately 2.5 million tons of CO2. Using systems and processes established by iCraft, the country can sell the remaining carbon credits on international carbon markets.

Vulnerable communities World Bank aid Social Services Climate Change Healthcare

World Bank Helps Improve Social Services for Vulnerable People in Uzbekistan

On 24 May, the World Bank’s Board of Executive Directors approved a $100 million concessional loan for an Innovative Social Protection System for Inclusion of Vulnerable People Project to improve access to, and the quality of social services for vulnerable people in Uzbekistan. The project is co-financed by a $2 million grant from the Early Learning Partnership; a multi-donor trust fund managed by the World Bank to support vulnerable children’s development and learning. The grant will be used to evaluate and improve social services’ provision for the well-being of vulnerable children in Uzbekistan’s local communities or ‘mahallas.’ Welcoming the government’s commitment to broadening the nation’s social protection system and provide more inclusive and effective support to vulnerable people, Marco Mantovanelli, World Bank Country Manager for Uzbekistan, commented: “This project will help build the legal and institutional foundations of the care economy. It will also expand access to quality on-demand social services that are currently underprovided to thousands of vulnerable people across the country, including older people, persons with disabilities, survivors of gender-based violence, and vulnerable children.” The project will be implemented by the National Social Protection Agency through the Office of the President of Uzbekistan, in close collaboration with various government agencies, non-governmental organizations, and Uzbekistan’s international development partners. Over 50 community-based territorial social service centers (TSSCs) will be established across the country to improve access to enhanced social care and rehabilitation facilities for over 50,000 vulnerable citizens, including the elderly, people with disabilities, and vulnerable children. The project will also create a platform for a regulated and accredited provision of social services from the private sector and by encouraging external investment, reduce the strain on the state’s institutional-based care and welfare system. Once in operation, the project will equip 1,200 people with disabilities, at least half whom are aged 15-24, with professional skills and employment opportunities. Women will also benefit from legal, health and psychological services offered by the establishment of 29 Women Adaptation and Rehabilitation Centers. Last but not least, the initiative will lay the foundations for shock-responsive social protection in Uzbekistan, including the development of policies, emergency procedures and the piloting of a new climate adaptation program. Serving 100,000 impoverished people living in rural communities, the program is designed to increase awareness of climate-related risks and improve communities’ resilience through the provision of seeds for climate-resistant crops, tools, and training in climate-smart agriculture and climate adaptation practices.

Agriculture World Bank aid Climate Change Kyrgyzstan

World Bank Boosts Kyrgyzstan’s Agricultural Productivity and Climate Resilience

The World Bank has announced funding of $30 million to help boost the productivity and climate resilience of Kyrgyzstan’s dairy and horticulture agri-food clusters. The project will be complemented by a $5 million grant from the Global Agriculture and Food Security Program. “Recognizing agriculture as a cornerstone of the Kyrgyz Republic's economy, the World Bank prioritizes the sector alongside energy and water in its new 2024-2028 Country Partnership Framework. The new project marks the beginning of a series of initiatives designed to support the Cabinet of Ministers' vision for a modernized, competitive, and climate-resilient agricultural sector," reported Tatiana Proskuryakova, World Bank Regional Director for Central Asia. Running until 2029, the initiative will help producers, processors, and other value chain participants to improve the quality and volume of their produce, access to markets through investment loans, training and capacity building, seed system enhancement, breeding, and information management. It will also focus on enhancing climate adaptation and mitigation through the promotion of climate-smart technologies as well as the employment of digital technology for accessing market information. The project will directly support 8,000 beneficiaries including individual farmers and producers, producer groups, small and medium processors, and other value chain participants in the agri-food clusters of dairy and horticulture. Indirect beneficiaries, numbering 20,000, will comprise farming communities and households of loan and training recipients, in addition to members of broader rural communities who will be afforded better jobs and opportunities to generate income.

Kazakhstan World Bank aid Economic Reforms CCDR

World Bank Supports Economic Reforms in Kazakhstan

Approval was granted on March 14th for the loan of $600 million to Kazakhstan by the World Bank’s Board of Executive Directors. The loan will be used to implement the first phase of a series of reforms aimed to promote sustainable growth in the country and support Kazakhstan's transition to a more competitive, greener, and inclusive economy. As a carbon-intensive economy, Kazakhstan has ambitions to scale-up action on tackling climate change and reduce reliance on the extraction of natural resources. The reforms aim to increase renewable energy generation, gradually phase out fossil fuel subsidies, improve energy efficiency, and protect poor and vulnerable households. These measures are integral to Kazakhstan’s Nationally Determined Contributions, which are committed to reducing harmful emissions by 25 percent by 2030. “This new partnership with the Government of Kazakhstan supports tangible measures to advance a low-emissions development strategy as part of the global fight against climate change,” said Andrei Mikhnev, World Bank Country Manager for Kazakhstan. Funding provided by the World Bank, with a low-cost and long-term repayment option, will support the government’s reforms in the following areas: In developing greener and more efficient energy, the program implements key recommendations by the Country Climate and Development Report (CCDR) to support the reduction of Kazakhstan’s carbon footprint and contribute to global efforts to combat climate change. In developing more competitive digital and financial markets and promoting transparent procurement practices, the program aims to enable more firms to provide digital services, develop safeguards essential for a digital economy, allocate credit to support productivity and increase transparency in procurement practices. In targeting the poor and supporting regional development, reforms aim to strengthen the social protection system and enhance regional development, as part of broader efforts to enhance inclusion and provide greater opportunities nationwide.

World Bank aid Kazakhstan Tajikistan Kyrgyzstan

World Bank Group Landmark Visit to Central Asia

The World Bank Group Board of Executive Directors has concluded a landmark visit to Kazakhstan, Kyrgyzstan, and Tajikistan. The Board reported that it had welcomed the opportunity to observe first-hand, Central Asian developments in tackling climate change within the prism of the water-energy nexus, the private sector’s growing address of green issues, and gender equality. Ten executive directors met with high-ranking officials and local stakeholders to discuss ongoing and future support provided by the International Development Association (IDA) to Kyrgyzstan and Tajikistan, and in Kazakhstan, focused on the World Bank Central Asia regional program. In Kyrgyzstan, the delegation attended a meeting with President Sadyr Japarov, Akylbek Japarov the Cabinet of Ministers chairman, and other officials. Visits were made to World Bank-funded project sites for water and sanitation, education, and disaster risk management, as well as a MIGA-guaranteed smart farm of hydroponic greenhouses and IFC agri-food processing projects. In addition to discussions with Tajikistan’s president Emomali Rahmon and his cabinet, the delegation toured the Rogun hydropower plant site and World Bank-financed projects on early childhood development and the improvement of health services. A meeting also took place with IFC investment beneficiaries in Dushanbe. The visit to Kazakhstan, included a World Bank-financed oncology centre, and a tour of the Almaty Airport, an IFC project site. The World Bank Group's key objectives in Central Asia are fostering robust recovery from recent crises, enhancing climate resilience, creating jobs, and protecting the countries’ most vulnerable populations. Dominique Favre, the World Bank’s Executive Director for Switzerland, who also represents the constituencies of Azerbaijan, Kazakhstan, the Kyrgyz Republic, Poland, Serbia, Tajikistan, Turkmenistan, and Uzbekistan, praised the regions’ progress and reiterated the company's commitment to helping Central Asian countries tackle ongoing challenges, particularly concerning water, energy, and agriculture.

Climate Change World Bank aid

World Bank to Help Increase Kyrgyzstan’s Resilience to Climate Change

A $45 million financing package for the Kyrgyz Republic Resilient Landscape Restoration Project, to be implemented until 2029, was approved by the World Bank’s Board of Executive Directors on February 27th. Complemented by a $5 million grant from the Global Partnership for Sustainable and Resilient Landscapes (PROGREEN) and a $2.4 million grant from the Korea–World Bank Partnership Facility (KWPF), the project aims to increase sustainable landscape management in selected locations in Kyrgyzstan and promote regional collaboration among Central Asian countries on transboundary landscape restoration. “We are pleased to assist the Kyrgyz Republic's Cabinet of Ministers in increasing the resilience of landscapes and communities to climate-induced hazards, and by enhancing the government’s capacity to monitor glaciers, snow cover, and mudflows, implement measures to adapt to and mitigate climate change,” announced Naveed Hassan Naqvi, World Bank Country Manager for the Kyrgyz Republic. “This project is an important step towards building a more resilient future for the people of the Kyrgyz Republic and will also have a positive impact on neighbouring countries.” The World Bank has affirmed that once in place, the project will directly benefit over 50,000 individuals in the most vulnerable, targeted rural areas of Jalal-Abad, Osh, Issyk-Kul, and Naryn, and communities located upstream of transboundary rivers. According to a 2018-19 study by the Central Asian Institute of Applied Geosciences, Kyrgyzstan’s glaciers have decreased by 16% over the past 50 years. The Ministry of Natural Resources earlier warned that many of the country’s 6,500 glaciers — which cover over 8,000 square kilometres and contain an estimated 650 cubic kilometres of freshwater — could shrink by 50% by 2050 and even completely disappear by the end of the century.