Hundreds of businesses and households in the Kyrgyz Republic will be able to modernise production, increase efficiency and/or improve their climate resilience thanks to a new financing facility approved by the Board of Directors of the European Bank for Reconstruction and Development (EBRD). Representative office of the EBRD reports.
«The Bank will channel funds of up to $50 million to partner banks and financial institutions under the Kyrgyz Republic Green Economy Financing Facility III (KyrSEFF III) for on-lending to small and medium-sized businesses and households across the country. The facility may also offer financing to vendors and producers of eligible materials and equipment covered by the online Technology Selector, a database of energy-saving technologies, available on the KyrSEFF website,» EBRD said.
KyrSEFF III builds on similar financing facilities (KyrSEFF I and II) worth $55 million, which were supported by the European Union and successfully implemented between 2012 and 2022. More than 3,500 projects financed through these facilities achieved annual energy savings of almost 200,000 MW and water savings of more than 153,600 m3. They also helped to reduce annual CO2 emissions by more than 67,000 tonnes.
While previous programmes have focused mainly on energy and resource efficiency, the new facility will broaden the scope of its activities. It aims to introduce new, inclusive financial products to support climate resilience and adaptation, reduce pollution and promote the sustainable use of water.
