The European Bank for Reconstruction and Development will provide up to $150 million to financial institutions participating in the Kazakhstan Green Economy Financing Facility II (GEFF Kazakhstan II) project for lending to individuals, private companies and small and medium-sized businesses across the country, the press service of the EBRD informs.
"The project will also provide funding to suppliers and manufacturers of high-quality green goods and equipment," the statement said.
With the support of climate investment funds (Climate Investment Funds, CIF), the GEFF Kazakhstan II project will support the development of the local market for "green" technologies and equipment. This will promote the growth of the green economy, make green technologies more accessible and create new jobs, the bank said. The project will also stimulate investment in projects to mitigate and adapt to climate change risks, promote the circular economy, and contribute to the decarbonization and competitiveness of the Kazakh economy.
Over the entire period of cooperation with the country, the EBRD has already invested more than 10 billion euros in Kazakhstan within 304 projects, the message emphasizes.
The EBRD is an international financial institution that finances projects in 35 countries from Central Europe to Central Asia, as well as in the countries of the Southern and Eastern Mediterranean.
CentralasianLIGHT.org
March 28, 2023