Conference of the Erasmus
Conference of the Erasmus Centre of Excellence in Sustainable Business and Finance (ECESBF)
On September 17, 2025, Tashkent State University of Economics hosted the final conference of the Erasmus Centre of Excellence in Sustainable Business and Finance (ECESBF), organized by the Department of World Economy and International Economic Relations. The international scientific-practical forum aimed to present and critically review multi-year project results, share outcomes with the academic community and the broader public, and promote international exchange. Sessions highlighted the project’s importance for sustainable business and finance, curriculum development, the expansion of academic partnerships, and key areas for future work.
The conference gathered representatives from the Ministry of Higher Education, Science, and Innovation of the Republic of Uzbekistan; the EU Delegation to Uzbekistan (Cooperation Section); European scholars; and officials from the Agency for Strategic Reforms under the President of Uzbekistan. It also included experts from partner organizations, faculty members from both domestic and international universities, researchers, and practitioners. Opening the event, TSUE Rector Tulkyn Teshabayev said: “ECESBF is not only a project but an important academic platform created to deepen Uzbekistan–EU cooperation, train a new generation of globally minded students, and contribute to the country’s sustainable development. Working closely with public institutions and the financial sector, the project produced key policy recommendations in sustainability and digitalization.”
The agenda centered on sustainable finance and its application in Uzbekistan. Detailed summaries of completed activities and overall outcomes were presented, emphasizing advancements in higher education such as new pedagogical approaches, innovative courses, and modern teaching and learning materials developed from European experience all recognized as drivers of quality and relevance. Participants engaged in in-depth discussions on implementing a carbon credit system as a mechanism for the gradual transition to a green economy and environmental sustainability; on sustainable finance strategies customized to national conditions; and on practical EU-inspired financial solutions to modernize the financial system, align it with international standards, and enhance the investment climate. New proposals and initiatives to develop sustainable finance in Uzbekistan were also introduced.
A dedicated segment analyzed the “Digital Transformation Scoreboard,” drawing on leading European practices to guide the development of Uzbekistan’s digital economy and suitable digital transformation indicators for the country. Discussions included the systematic implementation of digital reforms, innovation infrastructure, and performance measurement using digital metrics. As department head Nilufar Ismailova emphasized, TSUE launched a Jean Monnet module in European Studies in 2018 and, with European Commission support, started ECESBF in 2022. Through this program, sustainable finance strategies were developed and put into action in four local banks; a document database and a dashboard of indicators for digitalization were created as key resources for policymakers, researchers, and students; over 750 university students completed dedicated courses; and more than 320 school students participated in short courses.
In the final session, participants received a practice-focused “Green Finance” guide designed to clearly explain the concept to the broader public while outlining its theoretical foundations and practical implementation methods. The publication is expected to serve not only academic audiences but also the business community and public institutions, helping to effectively incorporate environmental sustainability principles into economic decision-making. Overall, the conference reaffirmed the importance of strengthening Uzbekistan-EU cooperation in education, finance, and sustainable development, advancing joint initiatives, sharing both theoretical and practical expertise, and deepening collaborative efforts toward sustainable economic growth.
