BAKU, Azerbaijan, May 4 – The demand for sustainability-linked financial products, also known as green financial products, is on the rise in Uzbekistan, according to Enrico Pinali, the Regional Head of the Asian Development Bank (ADB). Speaking at the III Tashkent International Investment Forum, Pinali highlighted the growing interest in such products among state-owned enterprises in Uzbekistan.

He stated, “A lot of state-owned enterprises are looking to secure funding from ADB and other financial institutions, or to tap into the capital market. One of the key challenges we face is developing a green pipeline, creating a taxonomy for green projects, and identifying specific categories like renewable energy or energy efficiency.”

Pinali emphasized the need for banks to establish dedicated product lines to support green initiatives and mentioned that ADB has already collaborated with some state-owned enterprises in this regard. He also mentioned the importance of promoting green principles in the construction mortgage industry and the significance of monitoring and ensuring compliance with green standards.

The III Tashkent International Investment Forum, which took place on May 2-3 in Tashkent, attracted nearly 2,500 participants from 84 countries. The forum featured various events including breakout sessions, round tables, presentations, and intergovernmental commission meetings. It also included a launching ceremony for several projects in Uzbekistan.