Journal of International Economics Research
Journal DOI
PendingISSN (Online)
Volume 2 , Issue 2 , PP: 01-09, 2025 | Cite this article as | XML | Html | PDF | Full Length Article
Akmal Durmanov 1 *
Doi: https://doi.org/10.54216/JIER.020201
The growing impact of climate change, resource depletion, and environmental degradation has intensified the need to reorient financial systems toward sustainable development, particularly in resource-dependent sectors such as agriculture. In this context, green financing has emerged as a key mechanism for aligning investment flows with environmental and sustainability objectives. However, in transition economies such as Uzbekistan, the application of green financing in the agricultural sector remains fragmented and insufficiently studied, which limits its effectiveness and policy relevance. The purpose of this article is to analyze the conceptual foundations, financial instruments, and institutional mechanisms of green financing in Uzbekistan’s agricultural sector within the sustainable development paradigm. The study adopts an empirical and analytical approach based on a mixed-method research design, combining systematic literature review, institutional and comparative analysis, and descriptive statistical methods using secondary data for the period 2015–2024. The results indicate a steady increase in total agricultural financing, with an average annual growth rate of 11.6%, while green-oriented investments grew at a faster pace, averaging 17.9% per year, albeit with higher volatility (σ = 6.3). The share of green financing in total agricultural credit expanded from 4.2% in 2015 to 14.7% in 2024. Concessional green loans accounted for 52.4% of total green finance flows, reflecting a dominant reliance on state-supported instruments. Correlation analysis shows a statistically significant positive relationship between green financing intensity and resource-efficiency indicators (r = 0.68, p < 0.05), whereas total agricultural credit volume exhibited no significant association with sustainability outcomes. The theoretical significance of the study lies in the development of an integrated analytical framework linking conceptual, financial, and institutional dimensions of green financing. The practical significance is reflected in evidence-based policy recommendations aimed at improving the effectiveness and diversification of green financing mechanisms to support sustainable agricultural development in Uzbekistan.
Green financing , Agricultural sector , Sustainable development , Institutional mechanisms , Green financial instruments , Uzbekistan
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