In Kazakhstan, the Green Economy Financing Facility (Pilot GEFF) operated from September 2020 till October 2023 and provided financing and consultations to individuals in order to improve comfort of their homes and to private sector businesses to improve their competitiveness through high-performance technologies and practices.
Green Economy means: an economy that minimizes the use of energy and water in production and consumption activities and thereby minimizes the negative impact on environment and climate.
The Pilot GEFF facility supported this transition process by providing finance for investments in ‘Green Technologies’, i.e.:
• Technologies that minimize the use of energy
• Technologies that generate energy from renewable resources
• Technologies that safeguard water resources
Under the Pilot GEFF the EBRD provided a loan, to participating local financial institutions (PFIs), for on-lending to private borrowers. The funds were used for climate change mitigation and adaptation investments, in line with EBRD’s Green Economy Transition approach, a comprehensive strategy to reduce greenhouse gas emissions and improve energy efficiency.
The Pilot GEFF in Kazakhstan was supported by a team of specialized consultants, including engineering, environmental, financial and marketing experts, which offered PFIs and their clients direct support and advice throughout the green project life cycle using best-in-class technologies. The technical assistance package was free of charge for the clients.
The technical support was provided by a local GEFF team, assisting companies through the various stages of project origination, investment appraisal and project implementation. This helped identify the best solutions and ensured quality green economy projects were successfully financed.
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