Zhazira Saparova is a longtime client of MFO KMF. Zhazira owns a small grocery store in the city of Shymkent. She learned about the GEFF program from its credit manager. She just needed a new freezer for the store. Zhazira says: “when I heard about the benefits of energy-efficient equipment, and that a 10% return on the cost of the equipment is granted, I immediately agreed. There were no difficulties when buying a freezer, I bought it for cash. I am very pleased with the purchased freezer, large and energy-efficient. A month later, I received compensation of 10%, it’s nice to receive such cashback. I put the money I received into working capital for the store. For many years I have been using loans from MFO KMF, and participating in various MFO KMF promotions. In the future, I also plan to take microcredits under the green financing program”.
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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