Tashkent, Uzbekistan, September 29, 2025 – A year after Agrobank’s initial bond issuance on the London Stock Exchange, the bank presents the Green Bonds Allocation and Impact report. This report details how the funds raised through the bond have been allocated to Green initiatives in Uzbekistan, as well as the impact of the financed projects in line with the ICMA Harmonised Framework for Impact Reporting, as well as their contribution to the UN Sustainable Development Goals (SDGs).

In September 2024, with GGGI’s support, Agrobank issued a green bond equivalent to USD 455.1 Million – USD 400 Million Eurobond and UZS 700 Billion soum bond – on the London Stock Exchange.  GGGI delivered technical advice and expertise to Agrobank as a Green Structuring Advisor, developing the Green Finance Framework, securing an excellent SPO, and participating in the 65+ meetings and roadshows addressing investors’ ESG queries.

A year later, in September 2025, Agrobank presented the Green Bonds Allocation and Impact report. According to the report, as of September 2025, Agrobank allocated USD 357.8 million as of September 2025, mostly to water-saving technologies. These investments generate over USD 68.6 million in annual net savings or incomes a year. These funds went into the green sector, such as climate-smart agriculture technologies, renewable energy, and clean transport, all generating jobs and boosting incomes. So far, over 19,000 loans have been allocated. As a result, annually, these loans will help save over 1 billion m³ of water, around 350 GWh of electricity, and reduce more than 175,500 tons of CO2e GHG emissions, impacting millions of lives.

In fact, the bonds have already contributed to the positive change. The report shares success stories from each targeted sector, including the case of Mr. Turavoy Jumonov, who used the loan to invest in drip irrigation for his farm and solar panels to reduce dependence on the power grid. Mr. Jumonov says, “We used to manually apply fertilizers in large amounts. Now that drip irrigation is in place, everything is accurate and effective. It reduces the need for fertilizers, water, and even equipment.”

GGGI collaborated with Sustainable Fitch to review Agrobank’s Green Bonds Allocation and Impact Report 2025. The conclusion of the Post-Issuance Review stated that the Agrobank report is aligned with its Green Financing issuance framework (2024) and that the reported impacts are aligned with the ICMA Harmonised Framework for Impact Reporting. Moreover, the report mentions that the projects financed through the bond have made a direct contribution to the UN Sustainable Development Goals (SDGs) number 7 (affordable and clean energy), 11 (sustainable cities and communities), and 13 (climate action).

GGGI continues to strive to accelerate Uzbekistan’s transition to a green economy by partnering with the private sector, deepening sustainable finance mechanisms, advancing renewable energy and low-emission infrastructure, and enhancing institutional readiness for climate and development action.

Read the Post-Issuance Report
Check the Sustainable Fitch Review

Read more about GGGI Uzbekistan
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