BAKU, Azerbaijan, July 29. Kyrgyz State Leasing Company OJSC and the Kyrgyz Green Finance Fund have signed a memorandum of understanding and cooperation, leasing company says.
"The Kyrgyz State Leasing Company OJSC and the Green Finance Fund of the Kyrgyz Republic OJSC have signed a Memorandum of Understanding and Cooperation," the statement said.
The memorandum establishes a framework for long-term partnership in green finance and the implementation of projects aimed at promoting the sustainable economic development of Kyrgyzstan.
One of the key areas of cooperation will be the development of green leasing mechanisms, enabling businesses, as well as state and municipal organizations, to acquire modern energy-efficient machinery, environmentally friendly transport, and equipment on affordable financing terms.
The parties also intend to jointly develop financial products and implement projects in the fields of renewable energy, energy efficiency, and green infrastructure.
The memorandum further provides for attracting funding from international financial institutions, climate funds, development institutions, and foreign partners to finance environmentally significant projects in Kyrgyzstan.
As part of the partnership, the parties will jointly prepare and support investment projects, exchange expertise and best practices, organize advisory, educational, and informational activities, and develop proposals to improve sustainable finance mechanisms.
According to the statement, the signing of the memorandum creates an institutional framework for combining the capabilities of the two organizations and expanding domestic enterprises' and organizations' access to modern financial instruments.
The implementation of the agreement is expected to help attract investment, promote the adoption of environmentally friendly technologies, improve energy efficiency, and advance the principles of a green economy in the Kyrgyz Republic.
