Kyrgyzstan gets loan for power efficiency

Kyrgyzstan gets loan for power efficiency

Kyrgyzstan gets loan for power efficiency

A Kyrgyz musician performs during a cultural festival in Turkey. DHA photo

The European Bank for Reconstruction and Development has launched a $ 20 million credit line supporting energy efficiency improvements in households and private enterprises in Kyrgyzstan.

Credits are complemented by donor funding provided by the EU Central Asia Investment Facility (IFCA). The total donor funding made available for technical assistance and grants offered together with the KyrSEFF credit line amounts to 3.8 million euros.

Over the next four years, loans under the new Kyrgyz Sustainable Energy Financing Facility (KyrSEFF) will be provided through partner banks. KyrSEFF credits are now available through Demirbank and KICB, with additional partners expected to join in the next few months. Loans under this credit line may be as little as a few hundred dollars but may reach a maximum of US$ 1 million depending on the borrower and the investment type.

“Working with the Kyrgyz banks on energy efficiency projects is a high priority for the EBRD. We hope that through our partner banks we can reach many Kyrgyz businesses and households that wish to invest in energy efficient equipment or insulation. ”, said Mike Taylor, EBRD Director for Financial Institutions, Central Asia, Caucasus and Mongolia. For private households, home improvements financed under the new credit line could include the installation of energy efficient windows, the insulation of walls, roofs and floors, and the introduction of efficient boilers, biomass-fuelled room heaters, solar water systems or heat pumps.

Any home owner, resident’s association, energy service company, developer or facility management company will be entitled to receive a grant.