In November 2020, pensioner Marat Nasirov, who lives in Chundzha village, contacted Microfinance organization MFO “KMF” to get a loan to buy a new gas boiler for his private house to replace an old one. The employee of the MFO “KMF” suggested Marat took part in the Green Economy Financing Facility (GEFF) where he had an opportunity to receive a compensation of 10% of the total boiler cost. “I made calculations and thought it was a good opportunity, – said Marat – and purchased gas boiler Navien under GEFF through MFO “KMF” loan. – I received 10% compensation out of purchase price, it was very nice. I recommend GEFF and MFO «KMF» to everyone!”
The client purchased the Navien Ace Coaxial 24KN gas boiler with a thermal efficiency of 90,50%. This equipment has been chosen from the Green Technology Selector – an electronic catalog of the energy-efficient Kazakh and foreign technologies and equipment. After installing the boiler in his house, the pensioner applied for verification and received 10% compensation of the total cost of the gas boiler and its components, purchased using resources from MFO “KMF” microcredit.
Today private individuals and businesses in Kazakhstan have an opportunity to take part in GEFF in order to finance purchase of energy-efficient equipment and materials with microcredit from MFO “KMF” and also to receive an incentive of 10% or 15% from the size of the loan or from the cost of purchased energy-efficient equipment purchased using financing from MFO “KMF”.
To receive incentives under GEFF (Green Economy Financing Facility) in Kazakhstan, it is necessary to:
Green Technology Selector is an electronic catalogue 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 previous month.
For more information about financing conditions of GEFF and MFO “KMF” please contact Call Center MFO “KMF” at 7474 or www.kmf.kz
Funds for incentive payments (compensations) were provided by the Global Environment Facility (GEF). The Federal Ministry of the Finance Republic of Austria is funding technical assistance under the GEFF and initial populating of the Green Technology Selector.
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 operates through a network of more than 155 financial institutions in 27 countries where the EBRD works. Currently, EBRD’s total investment in the GEFF 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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