Tashkent, Uzbekistan (UzDaily.com) -- A meeting was held at the Ministry of Economy and Finance between representatives of the Japanese company Hanwa Co. Ltd and specialists from the Department of Green and Economy Development of the ministry.

The purpose of the meeting was to discuss cooperation in the implementation of the joint credit mechanism (JCM) in the republic within the framework of the agreement signed between Uzbekistan and Japan in 2022.

The JCM co-financing mechanism is a system of cooperation between Japan to reduce greenhouse gas emissions through the introduction of modern technologies in developing countries on the basis of compensation of up to 50%.

The discussion was attended by the head of the Energy Administration of the Japanese company Hanwa Co. Ltd Fukuzawa Daigoro, investment specialist Otagshuro Akira, specialist for Central Asian countries at Mehmonov Farrukh, specialist at Erst & Young ShinNihon for Central Asian countries, as well as responsible employees of the green economy development department of the Ministry.

Also within the framework of the JCM mechanism, the implementation of a project to reduce greenhouse gas emissions through the installation of solar panels and the transition to the use of biofuel in the heating system in two medical institutions located in the Yakkabog district of the Kashkadarya region was discussed.

Representatives of Hanwa Co. Ltd made a presentation to the Ministry's experts on the technical challenges, benefits and expected results of the proposed projects for two health facilities located in the Yakkabog district.

Following the meeting, the parties agreed on cooperation in the implementation of projects implemented within the framework of the joint financing mechanism in the republic.