Uzbekistan's economic surge
A story from the January 2024 edition of The Steppe
Late last year the International Finance Corporation (IFC) commenced a groundbreaking venture in Uzbekistan, making its most substantial investment in the country to date with a total of $1.568 billion in 2023. The move signals a significant confidence in the country’s economic prospects.Â
This deal includes a $49 million allocation for Uzbekistan’s inaugural Zarafshon wind power plant, set to start operations in 2025, alongside close to $1 billion designated for a thermal power plant in the Syrdarya region.Â
These initiatives represent an important step in addressing the country's growing energy demands while actively contributing to its decarbonization and energy transition efforts. The mobilization of these funds is poised to foster the development of critical infrastructure, potentially triggering positive ripple effects across various sectors of the country.