Uzbekistan has joined the Transformation Pathways Initiative (TPI), an international climate investment program with a total budget of $720 million, becoming one of 10 participating countries. The Ecology and Climate Change National Committee said the initiative was presented during the UN Climate Change Conference (COP31) in Antalya, Türkiye. The program is designed to help enterprises in developing countries access long-term climate finance for energy-saving technologies, renewable energy deployment, greenhouse gas emissions reductions and industrial modernization.
Key Takeaways: TPI has an overall budget of $720 million, including $187 million from the fund and $533 million expected through co-financing. Uzbekistan is considering priority projects in textiles, chemicals, construction, distributed renewable energy and the agro-industrial sector. Across all participating countries, the program is expected to prevent more than 31 million tonnes of CO2-equivalent emissions and improve climate resilience for more than 1.4 million people.
The initiative is positioned as a financing platform that links climate action, sustainable development and industrial policy. Its stated goal is to give industrial enterprises, small and medium-sized businesses, and climate-resilient agri-food systems better access to long-term funding. For Uzbekistan, officials see potential in improving energy efficiency in textiles, chemicals and construction, expanding distributed renewable energy, introducing circular-economy technologies and modernizing agro-industry.
The program is being implemented with the United Nations Industrial Development Organization (UNIDO) and the international investment company Finance in Motion. Financing is expected to be provided directly to enterprises and through local financial institutions, including in the form of loans. Technical assistance will cover project preparation, climate impact assessment and efforts to improve enterprises’ investment attractiveness, according to the committee.
The Ecology and Climate Change National Committee is working with international partners, ministries, commercial banks and industrial enterprises to assess the formation of an investment project portfolio. The committee said the program’s support would target industrial enterprises, SMEs and the modernization of agri-food systems. The TPI also covers India, Serbia, South Africa, Nigeria, Côte d’Ivoire, the Dominican Republic, Ecuador, Mexico and Peru, reflecting a broad push to mobilise climate finance across emerging economies.
The exact allocation for Uzbekistan has not yet been announced. Funding levels for each of the 10 countries will be determined by the preparation and selection of investment projects, the committee said. Organizers expect the program to prevent more than 31 million tonnes of CO2-equivalent emissions and increase the resilience of more than 1.4 million people to climate change impacts once implemented across all participating countries. Further details are expected as project pipelines are developed with ministries, banks and industry.
Source: www.gazeta.uz