Tashkent, Uzbekistan, December 10, 2025 – GGGI organized a high-level session and a capacity building workshop under the Bridging the gaps of climate finance in Central Asia project, tailored for commercial banks and financial institutions, with a focus on sustainable finance, ESG integration, and green banking.  

The event brought together key stakeholders from the banks, development partners, including Ms. Sarah Cooper, Regional Development Director for Central Asia of UKFCDO, Mr. Sergey Makarov, Program Director at GIZ, and Mr. Umid Abidkhadjayev, Deputy Minister of Economy and Finance of the Republic of Uzbekistan, along with other valued stakeholders. 

“The government’s adoption of a Low-Carbon Strategy further reinforces its determination to transition to a greener economy. However, these targets are ambitious and will require substantial investment: USD 33.7 billion for mitigation by 2030, increasing to USD 69.9 billion by 2035 and USD 15.7 billion needed for adaptation by 2030. To mobilize such finances, effective policy frameworks, private sector engagement, and international cooperation are essential. Our project is designed to help bridge these gaps by identifying climate finance gaps, supporting green finance capacity building for banks and financial institutions, and developing tailored green financing frameworks for commercial banks in line with global standards,” said Dr. Mallé Fofana, GGGI Deputy Director-General (OIC), Asia Regional Director & Head of Program, as he opened the high-level session.

GGGI introduced the Bridging the gaps of climate finance in Central Asia project funded by UK International Development and GIZ. The project aims to address key barriers that prevent climate-friendly investments from expanding in Uzbekistan and Kyrgyzstan. By identifying the specific gaps and barriers faced by farmers, businesses, and financial institutions in the existing climate finance landscape, the project will provide recommendations to address these issues, making it easier for stakeholders to access climate finance. At the event, the first findings of the climate finance gap assessment were presented. 

Next, the attending banks participated in a panel discussion, including Kapital bank, BDB, Turon Bank, Ipak Yuli Bank, NBU, SQB and others, on their experience in sustainable finance after GGGI provided an overview of its activities in the field. 

It was followed by a capacity-building session on Green Banking & ESG Integration for commercial banks in Uzbekistan. The workshop was tailored to the specific needs of participating banks, as GGGI developed and distributed a brief survey in advance to assess their current capacities and interest in climate and green finance instruments. As a result, the banks received training on the foundations of sustainable finance and ESG integration, operationalizing sustainable finance inside the institution, as well as designing green and ESG-linked financial products and Second-Party Opinion processes. After the workshop, the participants engaged in lively discussions during the Q&A session. The workshop was the second part of the two-part series of workshops, with the first taking place in Bishkek on December 8. 

Overall, the Green Banking & ESG Integration trainings aim to strengthen the institutional capacity of key financial players and assist them in developing the necessary tools and regulations in the later stages of the Bridging the gaps of climate finance in Central Asia project to deploy climate finance effectively. We believe the banks and other financial institutions can be equipped with the necessary tools and capacities beyond the completion of the project. 

Background

The Bridging the gaps of climate finance in Central Asia project is implemented by the Global Green Growth Institute (GGGI) under the Small Grants and Climate Innovation Facility (SGCIF), which is funded by UK International Development. SGCIF is a part of the regional programme “Climate Risk Management in Central Asia”, implemented by GIZ on behalf of the German Government. 

Photos ©Global Green Growth Institute

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Media Contact

(GIZ) Assel Amit, Communication specialist / Component coordinator, GIZ programme “Climate Risk Management in Central Asia” (assel.amit@giz.de, +7 777 747 29 45) 

(GGGI Uzbekistan) Nazokatoy Azimova, Communications Assistant at  (azimova.nazokatoy@gggi.org, +99890 315 00 36)