As a 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 introduction of Islamic finance and green sukuk in Uzbekistan in order 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 with the support of the UNDP Istanbul International Center for Private Sector in Development 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 authors of the study attempt to argue that the green sukuk could be a viable financial instrument for supporting 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.