GREEN FINANCE: OPPORTUNITIES AND RISKS OF FINANCING ENVIRONMENTAL PROJECTS IN UZBEKISTAN
Abstract
Green finance has emerged as a strategy to address environmental challenges and promote sustainable economic growth across the globe. In Uzbekistan, a resource-rich country undergoing significant political and economic transformations, the adoption of green finance mechanisms presents unique opportunities for environmental protection, climate resilience, and innovative economic development. However, the pathway to green finance is fraught with risks, ranging from regulatory uncertainty to market inefficiencies, institutional inertia, and broader geopolitical factors. This article offers an in-depth, evidence-based analysis of the opportunities and risks accompanying the financing of environmental projects in Uzbekistan. Drawing from international experiences, national policy analysis, and financial sector assessment, the paper provides actionable recommendations for policymakers, investors, and development partners. The study aims to contribute to the evolving discourse on sustainable finance in Central Asia and to stimulate effective policy and practice in Uzbekistan.
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