BISHKEK: The State Development Bank of Kyrgyzstan has launched a new credit initiative for targeted financing of projects in accordance with green criteria through partner banks and other financial institutions, Trend reports

This announcement was made during a press conference by Azizbek Saipidinov, Deputy Chairman of the Bank’s Management Board, and project manager Zhyldyz Sulaimanbekova.

The program aims to stimulate the development and financing of projects that meet environmental criteria and sustainable development goals. It offers financing for innovative environmental initiatives, such as energy efficiency projects, renewable energy utilization, energy conservation, eco-friendly construction, clean water, clean transportation, and other strategically important areas for the sustainable use of natural resources.

Loans will be provided ranging from 5 million to 100 million soms (around $56,301 to $1.126 million) at an interest rate of 6 percent to 12 percent per annum for a term of 8 to 10 years.

Me
anwhile, the International Renewable Energy Agency (IRENA) reports that Kyrgyzstan’s renewable energy capacity reached 3,210 MW in 2023, which is a 15.4 percent increase compared to the period from 2022 to 2021, during which it stood at 2,780 MW.

Source: Trend News Agency