The new phase III of KyrSEFF (GEFF Kyrgyzstan) will support, in addition to energy efficiency and energy savings, projects related to adaptation to climate change. This was announced on May 25 during the seminar “Green Business and Access to Sustainable Finance” by Project Manager Nurzat Abdyrasulova. The seminar was held as part of the Bishkek International Financial Forum – BIFF 2023.
According to Nurzat Abdyrasulova, the amount of the credit line of the third phase of KyrSEFF is 50 million US dollars. There will also be a grant subsidy for borrowers and free technical advice from specialists. KyrSEFF introduced the Green Technology Selector, which is an international site catalog of high-performance technologies and materials that have been pre-approved and eligible for EBRD financing from local financial institutions under green financing programs. In addition, the EBRD is providing a US$5 million loan to Kompanion Bank CJSC to help small businesses in the Kyrgyz Republic modernize production, improve efficiency, and address pressing environmental issues such as water scarcity, erosion, and soil degradation.
Companion Bank CJSC, an EBRD client since 2007, became the first domestic financial institution to join the recently approved Green Economy Financing Facility in Kyrgyzstan – GEFF Kyrgyzstan (KyrSEFF III), which aims to promote green and sustainable lending.
Islambek Isaev, Managing Director of Lekar, shared his experience of a partnership between the EBRD and GEFF Kyrgyzstan (KyrSEFF III). ‘There were several joint projects: the Ormon Khan coworking center, where they used energy-efficient insulation technology, and the installation of solar panels in the Lekar pharmacy chain, which improved business processes, especially during a power outage. A new warehouse is currently under construction, he said.
The BIFF2023 forum was held under the theme “Technology, Opportunities, and Sustainable Development”. Given global trends, issues of sustainable and green finance were actively discussed. This year it was held for the eighth time.
