First appeared in
Asian Development Bank
100 Climate Actions from Cities in Asia and the Pacific
An EU-backed $35 million fund is helping Kyrgyz home and business owners to take energy and water efficiency improvements into their own hands, cutting bills and emissions.
An EU-backed $35 million fund is helping Kyrgyz home and business owners to take energy and water efficiency improvements into their own hands, cutting bills and emissions.
Home and business owners throughout the Kyrgyz Republic can benefit from generous loans, grants, and technical assistance to improve energy and water efficiency, cutting bills as well as carbon emissions from the small and mountainous nation. The Kyrgyz Sustainable Energy Financing Facility (or KyrSEFF+) initiative is a $35 million fund backed by the EU that supports projects ranging from wall insulation to solar energy and rainwater harvesting in Kyrgyz homes.
$2M
IN LOANS AVAILABLE TO BUSINESSES
To make sustainable investments attractive for the Kyrgyz people, KyrSEFF+ loans are supported by grant incentives of up to 35% and can be paired with technical assistance, where local partner banks make services easily accessible.
Businesses can also access funding: up to $2 million, with up to 15% in grants. These can help to boost business through financing of efficient production and management systems, such as machinery for agribusinesses and wastewater treatment systems for hotels.
So far, 734 households and 74 businesses have been supported by loans and grants.
Bishkek is the capital of the Kyrgyz Republic, with a population of around one million people (photo by ADB).
The Challenge
The Kyrgyz Republic saw massive construction of residential and public buildings in the 1960s and 70s, with a high concentration built in Bishkek. These buildings are inefficient and carbon-intensive, and still make up the majority of buildings in the city today.
Co-Benefits
Economic By investing in projects with low environmental risks, the program stimulates economic activity among the population.
Social The program has provided loans to 734 households to make efficiency improvements which will also raise the quality of life for residents.