Uzbekistan’s First SDG Bond Allocation and Impact Report


In July 2021, Uzbekistan has become the first country in the region and the second in the world to issue a Sovereign SDG Bonds worth of $US 235 million (nominated in Uzbek soums), with a 14% coupon rate, for a period of three years. The Bond facilitated the transfer of resources from global investors to public SDG-oriented projects in seven areas: Education (SDG 4), Water Management (SDG 6), Health (SDG 3), Green Transportation (SDG 11), Pollution Control (SDG 11), Management of Natural Resources (SDG 15), and Green Energy (SDG 7).

This first SDG Bond Allocation and Impact report provides information on how the proceeds from the bond issuance are helping to achieve the Government’s development priorities and highlights Uzbekistan’s commitment to achieving the Sustainable Development Goals (SDGs).

This initiative is realized within the framework of the UN Joint Programme “Establishment of Integrated National Financing Framework in Uzbekistan (INFF)”, led by UNDP alongside the United Nations Children's Emergency Fund (UNICEF), the World Health Organization (WHO) and the UN Office on Drugs and Crime (UNODC). It aims to facilitate the establishment of an Integrated National Financing Framework (INFF) to maximize the development impact of ongoing reforms. The Joint Programme is funded by the Joint SDG Fund with contributions from the European Union and governments of: Denmark, Germany, Ireland, Luxembourg, Monaco, Netherlands, Norway, Portugal, Spain, Sweden, and Switzerland.