Usipzhan Ashimov is a citizen of a small city Zharkent, Almaty region, has been working as a driver who transports cargo between villages for more than 20 years. He carries coal and livestock. Several years ago, a man took a micro-loan from a microfinance organization KMF to buy a cargo truck. Usipzhan learned about the GEFF program from his credit manager and became very interested. He had long planned to buy a gas boiler for his house. The man said the GEFF program was just a godsend for him.
MFO “KMF employees advised on the terms of the loan in this program, helped me with the choice of an energy efficient boiler, and quickly served. “I also received compensation for the purchase of an energy efficient boiler 10% of its cost,” – said Usipzhan Ashimov.
Usipzhan purchased a Bosch gas boiler, energy efficiency class A. Due to the higher efficiency of the new boiler, the user reduces gas consumption and expenses on gas. Considering that old boilers that have reached their term of operation become fire hazardous and pose a risk to the health of residents (carbon monoxide), it is important to change the equipment on time.
Usipzhan said that in the near future he plans to purchase energy-efficient plastic windows under the GEFF program.
To receive incentives under GEFF (Green Economy Financing Facility) in Kazakhstan, it is necessary to:
Green Technology Selector is an electronic catalog of Kazakh and foreign technologies.
After successful verification, 10% or 15% of the loan or investment in energy-efficient modernization could be compensated. The compensation is calculated from the lower amount. Compensations are paid every month for all applications which were successfully verified and confirmed in the previous month.
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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