GREEN STRUCTURAL TRANSFORMATION IN UZBEKISTAN: GREEN FINANCE AND ECO-INNOVATION FOR SUSTAINABLE INDUSTRIAL AND AGRICULTURAL DEVELOPMENT
DOI:
https://doi.org/10.5281/zenodo.17857603Keywords:
green economy; green structural transformation; sustainable development; green finance mechanisms; sovereign green bonds; SDG bonds; climate-aligned investment; sustainable public finance; eco-innovation; industrial modernization; Uzbekistan.Abstract
The article examines sustainable development and green structural transformation in Uzbekistan with a focus
on two core pillars: the rapid emergence of green finance and the diffusion of eco-innovation across industrial and
agricultural value chains. Drawing on official statistics, international reports (World Bank, UNDP, OECD) and the latest
sectoral data, the study analyzes the development of thematic bonds, institutional reforms in public finance, and the
modernization of agro-food systems. Since 2021, Uzbekistan has issued more than USD 1.2 billion in sovereign thematic
bonds, including its first sovereign green Eurobonds in 2023, accompanied by the placement of 4.25 trillion UZS in localcurrency
green bonds. In the agro-food sector, annual fruit and vegetable production exceeds 22–23 million tonnes,
but only 10–15% is processed and 20–30% is lost post-harvest due to insufficient storage and logistics infrastructure.
The study uses institutional analysis, sectoral statistics and a SWOT-type interpretative approach. The findings show
that Uzbekistan has established a relatively advanced green-growth policy architecture and an emerging green-finance
ecosystem; however, structural challenges persist in industrial modernization, circular-economy development and postharvest
value retention. The article concludes that long-term competitiveness will depend on scaling up green finance,
accelerating eco-innovation in industry and agriculture, and strengthening institutional coordination within a coherent
green-growth framework
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