FINANCING WATER RESILIENCE: A FEASIBILITY ANALYSIS OF SOVEREIGN BLUE BOND ISSUANCE IN UZBEKISTAN

Yakubov Jakhongir

GREEN ECONOMY AND DEVELOPMENT, 2025, vol. 3, issue 12

Abstract: As Uzbekistan faces a projected water deficit of 7 billion cubic meters by 2030, traditional fiscal mechanismsare proving insufficient to modernize the country’s agricultural infrastructure. This paper analyzes the feasibility ofintroducing “Blue Bonds”—debt instruments dedicating 100% of proceeds to water management—into Uzbekistan'scapital market. By reviewing hydrological forecasts, fiscal data, and the precedent of the 2023 Sovereign Green Bond,this study identifies a funding gap of approximately $4–5 billion for irrigation modernization. The results suggest that whilethe market infrastructure for a Blue Bond exists, its success relies on establishing rigorous monitoring, reporting, andverification (MRV) mechanisms to mitigate “bluewashing” risks and ensure long-term impact.

Keywords: blue bonds; water management; irrigation modernization; sustainable finance; water scarcity; capital markets; monitoring; reporting and verification (mrv); environmental policy; climate resilience (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:teu:ged000:v:3:y:2025:i:12:id:8293

DOI: 10.5281/zenodo.17977556

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