As part of its joint initiative with the Capital Market Development Agency and the Islamic Development Bank, UNDP is providing support to the Government of Uzbekistan on enhancing the enabling environment for the introduction of Islamic finance and green sukuk in Uzbekistan to mobilize additional funding for the achievement of the SDGs and national development priorities in Uzbekistan.

The “Pre-Feasibility Study for Green Sukuk Issuance in the Republic of Uzbekistan” developed in collaboration with the UNDP Istanbul International Center for Private Sector in Development (IICPSD) aims to explore the opportunities and challenges as well as to perform a pre-feasibility analysis for the introduction of green sukuk in Uzbekistan. Considering the existence of a financing gap for the achievement of the SDGs in Uzbekistan, the study demonstrates that green sukuk could be a viable financial instrument to support sustainable development in the country and a promising potential tool for Uzbekistan’s efforts to address climate change and make the transition to a green economy.