The EBRD GEFF program participant has long planned to replace the windows in her house in the Shemonaikh district of the East Kazakhstan region. The old windows were badly damaged by rain, leaked, let in noise and dust. It was very hot in her house in the summer and cold in the winter due to drafts. The windows often fogged up.
The owner decided to replace the old windows with energy efficient two-chamber ones using the EBRD’s GEFF program. She could not afford to pay for all the windows she needed at once. She contacted MFO “KMF” to apply for a loan and an expert told her about the incentives of 10% she could receive when choosing energy efficient windows from the Green Technology Selector.
The owner of the house was very interested in this opportunity and decided to replace the windows in several rooms at once. The cost of windows including additional costs for delivery and installation was 350 thousand tenge (equivalent to appr. 833 USD)The new energy-efficient windows not only made her home more comfortable all year round but also helped reduce noise from the street. Thanks to the energy-saving window technology, she no longer has used the air conditioner all the time.
To participate the GEFF program (Green Economy Financing Facility) in Kazakhstan, it is necessary to:
The Green Technology Selector is an electronic catalog of Kazakh and foreign technologies.
10% or 15% of the loan or investment in the energy efficient modernization can be compensated after successful verification. The compensation is calculated from the lower amount. The compensations are paid on a monthly basis, following applications which were successfully verified and confirmed in the previous month.
The compensation funds were provided by the Global Environment Facility (GEF). In addition, the Austrian Federal Ministry of Finance is funding the technical assistance services and the compilation of the Green Technology Selector through the GEFF.
The GEFF program is a part of the Green Economy Transition (GET) approach proposed by the EBRD. The EBRD has unveiled 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 investment volume by 2025, with a special emphasis on the gender issues.
The GEFF program is working through a network of more than 155 financial institutions in 27 countries of the EBRD operation. The total amount of the EBRD investments under the GEFF Program has reached € 5 billion, benefiting 202,000 clients. The implemented projects led to reduction of CO2 emissions at the level of 9 million tons annually. The EBRD has implemented 276 projects and invested almost 8.6 billion EUR into the economy of the Republic of Kazakhstan.
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