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.
