ASTANA, Kazakhstan, September 19. By providing environmentally friendly loans and finance, Kazakhstani banks are actively promoting sustainable growth, Trend reports via PwC.
This is stated in a PwC report prepared with specialists from KASE and data from listing and disclosure reports. PwC published a study on the energy transformation of Eurasia: Kazakhstan and Uzbekistan focus on green financing.
According to PwC, in 2025, Kazakhstani banks are rolling up their sleeves and getting down to brass tacks to bolster their role in sustainable financing. They're pulling in significant funds and putting their noses to the grindstone to implement projects focused on energy modernization and environmental sustainability.
JSC “Home Credit Bank” in May 2025 signed an agreement with the European Bank for Reconstruction and Development (EBRD) to receive a loan of $25 million. The financing is provided within the framework of the GEFF Kazakhstan II program and is aimed at supporting clients wishing to modernize residential premises, reduce energy costs, and contribute to a sustainable lifestyle. According to Fitch’s rating as of March 2025, the bank has a BB- rating with a stable outlook.
In December 2023, the State Development Program of Kazakhstan successfully placed its first green bonds on the Kazakhstan Stock Exchange (AIX), obtaining certification from the Climate Bonds Initiative (CBI). The total issuance volume was $15 million with an annual rate of 5.65 percent. The funds are directed towards the development of renewable energy projects. As of August 2024, BDK holds a BBB rating with a stable outlook from S&P.
JSC Halyk Bank in December 2024 issued its first green bonds with a nominal value of 20,000 million tenge (20 billion tenge, approximately $36 million), with a maturity of three years and an annual interest rate of 1.25 percent. The issuance is supported by a BBB- rating with a stable outlook from S&P and is directed towards projects to improve resource efficiency and combat climate change in accordance with the UN Sustainable Development Goals.
Also, in March 2023, BDK issued green bonds amounting to 10,000 million tenge (10 billion tenge, approximately $18 million) with a maturity of three years and a yield of TONIA + 2.00 percent (compound interest). These funds were invested in projects to increase the efficiency of the energy system and the reliability of electricity supply in the western regions of Kazakhstan.
Data on ratings and financing volumes confirm growing interest and support from international agencies and financial institutions. According to the rating agencies Fitch and S&P, banks maintain stable credit ratings, reflecting their resilience and ability to support green projects.
The activity of Kazakhstani banks in green financing and cooperation with international institutions such as the EBRD demonstrates the importance of sustainable development for the country’s financial sector. These initiatives contribute to achieving national environmental goals and stimulate the transition to an energy-efficient and environmentally clean economy in Kazakhstan.
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