On 29th February, Mark Bowman, Vice President of The European Bank for Reconstruction and Development (EBRD) visited Bishkek to announce a new partnership with Demir Kyrgyz International Bank, FINCA Bank Kyrgyzstan, and Kyrgyz Investment and Credit Bank.
Applauding their commitment, Bowman said, “We welcome partner banks to KyrSEFF III and their participation in our third green financing facility in the Kyrgyz Republic to help address pressing environmental challenges. For more than 10 years, the EBRD, local financial institutions and the authorities have worked together to promote a greener future for the country. We look forward to building on this success.”
Kyrgyzstan’s Minister of Economy and Commerce, Daniyar Amangeldiev expressed gratitude to the EBRD for supporting the KyrSEFF program, which has so far invested more than $55 million in 3,355 energy efficiency projects in Kyrgyzstan.
While previous initiatives focused mainly on energy and resource efficiency, the new Green Economy Financing Facility KyrSEFF III has expanded its remit by investing a further $50 million to support climate resilience and adaptation, reduce pollution and promote the sustainable use of water.
Loans will be offered to relevant small and medium-sized businesses as well as households across the country. Finance will also be available to retailers and producers of material and equipment covered by the KyrSEFF Technology Selector, an online database of energy-saving technologies.
