On January 23, 2024, the European Bank for Reconstruction and Development (EBRD) held a Workshop “EBRD Green Offering Workshop” in Bishkek, where innovative approaches of the EBRD in developing a green economy were discussed.
The main goal of the event is to generate demand for innovative EBRD products and technical assistance programs and establish effective cooperation with local partners.
The EBRD is committed to sustainable development and recognizes the need to create a green economy for a more sustainable future. EBRD’s green finance is focused on investing in cost-effective projects that also reduce carbon emissions and improve the environment. Thus, under the new approach to the transition to a green economy for 2021-2025, the EBRD will increase its green financing to more than 50 percent by 2025.
During the workshop, the following topics were discussed:
• Green products for financial institutions (GEFF, green TFP, etc.)
• Climate risk management
• ASB activities and connections with FI products
The EBRD provides financial support for projects aimed at reducing energy consumption and increasing the share of renewable energy sources. In addition, the EBRD provides expert support and assistance in the development and implementation of green projects in Kyrgyzstan.
“From 1 January 2023, all new EBRD financing is consistent with the objectives of the Paris Agreement, including transacti
ons with financial institutions. Between 2006 and 2022, the EBRD financed more than 2,600 green projects, which will reduce about 124 million tonnes of carbon dioxide emissions per year. In Kyrgyzstan, we are also ready to introduce new products in the financial sector, always with a green component,” noted Ayten Rustamova, Director, Regional Head of Kyrgyzstan, Tajikistan and Turkmenistan, EBRD.
“In moving forward with the Paris Agreement, financial institutions must consider both the financial impact of climate change on the bank and the bank’s impact on the planet and society”, said Ksenia Brokmann, Head of Green Financial Systems, Central Asia, Caucasus and Turkiye, Climate Strategy and Delivery. In doing so, they can take proactive steps to plan for the transition to low-carbon technologies. The EBRD, also supports providing advice to small businesses and supports reforms to improve the business environment, including “green” consultations on projects, focusing on energy and resource efficiency and environmental management. Multilateral technical assistance is also being provided by EBRD consultants to improve business practices in the implementation of green projects.
The workshop participants, including representatives of the National Bank of the Kyrgyz Republic, commercial banks, and other financial institutions, expressed gratitude to the EBRD for the opportunity to learn more about investing in green projects and products to facilitate the transition to a sustainable future and the development of ESG principles.
