BAKU, Azerbaijan, July 10. Kyrgyzstan's State
Development Bank and Asia Bank have launched a financing mechanism
to support businesses implementing green economy projects.
This was announced in a press release published by Kyrgyzstan's
Ministry of Finance.
"The launch of the new financing mechanism will expand
entrepreneurs' access to long-term financial resources for projects
involving modern energy-efficient technologies, renewable energy
sources, resource conservation, and environmentally responsible
business practices," the ministry said.
According to the ministry, the initiative will finance projects
focused on energy efficiency, renewable energy, resource
conservation, and other areas of the green economy.
However, the development of green finance instruments is
identified as one of the priorities of the Finance Ministry's
policy aimed at improving economic sustainability, reducing
environmental impacts, and supporting the modernization of domestic
businesses.
Meanwhile, Kyrgyzstan has been stepping up efforts to promote
sustainable finance in recent years as part of its climate and
economic development agenda. The country has adopted a green
economy development strategy and is working with international
financial institutions to expand investment in renewable energy,
energy efficiency, and climate-resilient infrastructure. Green
financing is viewed as a key tool for attracting private investment
into environmentally sustainable projects while supporting
long-term economic growth.
Kyrgyzstan's green financing sector is rapidly expanding, driven
by massive international backing and new national policies aimed at
climate resilience. Major initiatives like the $50 million AIIB
credit line for local banks and the GEFF in Kyrgyzstan provide
businesses and households with subsidized green loans and cash-back
grants.
