The Green Economy Financing Facility (GEFF) covers both the projects that comprise high-performing equipment, materials for rational use of energy resources and also technologies to improve land management and water efficiency projects.
The drip irrigation project in the Shieli district of the Kyzylorda region was one of the first water management projects financed by the MFO “KMF” under the Green Economy Financing Facility that was organized by the European Bank for Reconstruction and Development. One of the first sub-borrowers who participated in GEFF was a client of the MFO “KMF”. He has been engaged in the field cultivation sector in the Shieli district of the Kyzylorda region for about 12 years and been growing tomatoes, cucumbers, eggplants on 5 hectares of leased land. Over the past seven years, he borrowed from the MFO “KMF” on regular basis in order to purchase seeds, to pay workers for agricultural services, and other needs. In October 2020, he got a loan from the MFO “KMF” under the GEFF to purchase emitter drip tapes for drip irrigation as water is scarce in the region and is expensive during the summer season. The farmer has purchased a drip irrigation system (an irrigation system and a pump) for 1 million 450 thousand tenge. The system will help to significantly reduce the cost of irrigation in the summer season.
GEFF program is part of The Green Economy Transition (GET) the EBRD’s recently announced new approach to unveil an ambitious plan to scale up even further its climate and environmental finance and to increase green financing to more than 50 per cent of its annual business volume by 2025, with particular attention to gender considerations.
The GEFF program operates through a network of more than 155 financial institutions in 27 countries where EBRD works. Currently, EBRD’s total investment in the GEFF Program has reached € 5 billion, benefiting 202,000 clients. The projects implemented have reduced CO2 emissions by more than 9 million tons annually.
To date, the EBRD implemented 276 projects and invested into the economy of the Republic of Kazakhstan almost 8.6 billion euro.
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