Prospects to develop green economy through private sector discussed in Kyrgyzstan

BISHKEK (TCA) — The OSCE Programme Office in Bishkek supported a conference entitled Prospects to Develop the Green Economy through the Private Sector that took place on November 14. It was organized during the annual Green Economy Week held from 11 to 17 November.

The event was organized by the Climate Finance Centre, the Union of Banks of Kyrgyzstan and the Green Alliance of Kyrgyzstan, with the support of the OSCE Programme Office in Bishkek.

The purpose of the conference was to identify possible mechanisms for developing project proposals to provide financial support to businesses, as well as identify opportunities for the implementation of eco-certification in order to create sustainable market demand.

Participants took part in panel discussions to brainstorm ways the private sector can foster green development. They discussed the prospects of green financing in the financial and credit sector as well as the creation of market demand through eco-certification. Recommendations adopted at the conference will be included in the final resolution of the Green Economy Week.

In 2018, the Kyrgyz Parliament adopted a Concept on Green Economy aimed at improving the well-being of citizens and strengthening social justice while significantly reducing risks to the environment, preserving the country’s natural ecosystems and increasing natural capital.

The OSCE Programme Office in Bishkek is co-operating with the Kyrgyz Association of Microfinance Institutions (AMFI) to analyze the compatibility of Kyrgyzstan’s national legislation and other regulatory documents of the Kyrgyz Republic on environmental lending and financing. A series of training courses were conducted for the employees of the AMFI on development and provision of green loans.

The OSCE Programme Office said it continues to support the Government of Kyrgyzstan in mutual efforts towards the establishment of inclusive green economy.

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Times of Central Asia