EBRD and EU foster significant savings of resources, carbon emissions reduction in Kyrgyz Republic
The Kyrgyz Sustainable Energy Finance Facility (KyrSEFF) combines credit lines from the EBRD and grant funding from the European Union to promote investment in sustainable use of energy and other resources and to develop renewable energy sources. KyrSEFF is key to the Kyrgyz Republic’s energy and water security and it also contributes to local awareness and competitiveness. Its second phase, KyrSEFF II, reached an important milestone – 27 best projects and key green economy advocates from all over the country received energy and water efficiency excellence awards for their achievements.
During the ceremony in the capital of the country, Bishkek, which took place on December 8, awards were given to various projects that demonstrate community benefits in energy and water efficiency investments. These included:water saving and wastewater treatment measures in agribusiness and tourism sectors, energy efficiency investments in SMEs and households, awareness-raising campaigns and supply chain development, state-of-the art technical solutions, significant demonstration impact to the community, women empowerment and the reduction of toxic waste. Twelve best loan officers from six partner-banks also received special KyrSEFF awards for promoting this important undertaking across the country.
To date, more than 800 Kyrgyz citizens have accessed finance and technical assistance services provided by through KyrSEFF II. Over 400 of them have also received investment grants provided by the EU to meet the cost of investments into best technological solutions for their projects. As of October 2018, KyrSEFF II operations have led to energy savings of more than 27,000 MWh, carbon savings of 10,000 tCO2 and water savings of 28,000 cubic meters.
The second phase of KyrSEFF II, launched in 2016, is implemented through six local commercial banks and microfinance institutes (Optima bank, Bai-Tushum Bank, Demir Kyrgyz International Bank, Kompanion Bank, Kyrgyz Investment and Credit Bank, and First Micro Finance Company) has become a flagship project in the Kyrgyz Republic.
To date, the EBRD has invested about US$ 770 million in various sectors of the Kyrgyz Republic economy, with projects in infrastructure accounting for a third of the total investment. The Bank is paying special attention to green economy investments.