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Tuesday, August 22, 2017

EBRD to finance Kyrgyz bank's energy-efficiency projects

The European Bank for Reconstruction and Development (EBRD) said Tuesday that it will lend $2 million to the Kyrgyz Investment and Credit Bank (KICB) to help facilitate energy-efficiency projects.

Portions of the EBRD loan will go to businesses and individual households that wish to make investments in energy-efficient equipment, appliances and insulation.

The framework of the loan will fall under the Kyrgyz Sustainable Energy Financing Facility, one of the EBRD's institutions that facilitates this type of development for the country. It also provides credit lines and other financial assistance to local banks to finance small sustainability projects. It is also a part of a wider facility within the EBRD.

The European Union's Investment Facility for Central Asia supportsĀ  the Kyrgyz facility.

This financial assistance will bring total EBRD aid to Kyrgyzstan to $622.3 million.

Organizations in this story

European Bank for Reconstruction and Development One Exchange Square London EC2A 2JN United Kingdom

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