A meeting was held with representatives of the French Development Agency in Rabat
Members of the delegation of Uzbekistan met with representatives of the French Development Agency in Rabat within the framework of the training program "Study-tour of the Moroccan experience in the implementation of the Monitoring, reporting and verification (MRV) system" organized by the French Development Agency (AFD) and Expertise France.
The parties discussed in detail the projects carried out in cooperation with AFD in Morocco in the field of climate change, in particular, projects such as budget expenditures green tagging, supporting green procurement, introduction of green financing taxonomy (green criteria) within the framework of integration of green economy principles into the public finance management system.
During the meeting, the newly introduced projects in the two countries, including the issues of accelerating the transition of state-owned enterprises to the green economy, as well as mechanisms for the establishment of greenhouse gas trading, in particular, introducing the Carbon Border Adjustment Mechanism (CBAM) of the European Union, national and international emission trading systems were discussed.
Furthermore, the experience of Uzbekistan regarding the development of means and methods of financing climate change measures, in particular, the issuance of suvereign and corporate “green” bonds and promoting green financing flows in the private sector was discussed, and prospective directions that could be implemented in cooperation in this regard were considered.
For information: For the first time, the Republic of Uzbekistan placed green sovereign international bonds worth 4.25 trillion soums and international bonds worth $660 million on the London Stock Exchange in October, 2023. At the same time by the decision of the Cabinet of Ministers No. 561 of October 25, 2023, the taxonomy of the national "green" economy was introduced in the country.
In addition, the delegation members got acquainted with the projects successfully implemented in Morocco with the participation of AFD on the development of measures to adapt to climate change in the fields of agriculture and water management, the rational use of water resources (smart irrigation) and the construction of green sustainable buildings, and they exchanged views on the projects that can be implemented in Uzbekistan based on the priorities.
At the end of the meeting, it was agreed to further develop mutual cooperation and provide additional technical support to Uzbekistan within the framework of the work carried out by AFD and Expertise France in Morocco.
Information Service
Ministry of Economy and Finance