Investing in energy-efficient equipment quickly pays off and contributes to the competitiveness

Nurlan Abdrazakov from the Shieli village of the Kyzylorda region has been breeding livestock and selling meat for over 15 years. Recently, a man decided to purchase a forklift for use on the farm: loading feed, equipping a farmyard, and outbuildings construction. For this purpose, the entrepreneur applied for a loan to the Microfinance organization (MFO) “KMF”.

According to Nurlan, the loan manager clarified the model of the forklift and advised to take an advantage of profitable purchase under the Green Economy Financing Facility (GEFF) program from the EBRD. He also spoke on the opportunities of obtaining an incentive in the amount of 10% of the equipment cost, since this model of the forklift was registered on the Green Technology Selector website.

As a result, the entrepreneur purchased a forklift from a well-known American manufacturer of construction and mining equipment with the loan funds provided by the MFO “KMF”. Also, he received the incentive of 10% of its value. A new forklift purchased for 1.5 million tenges (the equivalent of US$ 34,885) allows to reduce energy consumption by 347.1 MWh per year, contributing to an annual reduction in CO₂ emissions of 27 tons.

“The GEFF program is beneficial and also convenient. The collection of all documents for obtaining an incentive didn’t take long”,- said Nurlan.

This project was supported by the Global Environment Facility (GEF) and the Austrian Federal Ministry of Finance.