The new equipment saves US$ 1,077 per year
A bakery owner in Tajikistan turned to Climadapt for a loan that allowed him to purchase new equipment, increase the amount of baking goods the bakery produces and at the same time reduce his carbon footprint.
Mr Olimov is an entrepreneur and an owner of a small bakery in Tajikistan. Driven by an increasing demand for his baking goods Mr Olimov decided to expand his production and requested a loan from one of the partner banks that Climadapt works with.
The bakery owner saw this as an opportunity to not only increase the output but also to reduce energy consumption by investing in new higher-capacity baking equipment.
The Climadapt team supported the company with loan financing and analysis of the proposed investment project, its financial-technical parameters and risks.
A loan of US$ 8,000 went towards purchasing the equipment, which now helps Mr Olimov save around US$ 1,077 per year. These savings can be seen as additional income, beyond this, the investment safeguards the bakery from its larger competitors.
The equipment is also estimated to be 66 per cent more energy efficient. This translates to significant energy savings of 24, 773 kWh per year, an equivalent of 1.8 tonnes of CO2 saved.
The Tajikistan Climate Resilience Financing Facility, CLIMADAPT is developed by the European Bank for Reconstruction and Development (EBRD) and supported by the Climate Investment Funds (CIF) and UK Aid Direct.