EBRD organises $4mn financing package for green technology solutions in Tajikistan

By bne IntelIiNews January 27, 2021

The European Bank for Reconstruction and Development (EBRD) has organised a financing package of $4mn for Tajikistan’s largest private lender Bank Eskhata via its Green Economy Financing Facility (GEFF) to support green financing for households and small and medium sized enterprises (SMEs) investing in green technology solutions, the EBRD said in a statement.

Eskhata’s loans will cover drip irrigation, rainwater harvesting and storage, sustainable land-management solutions, solar panels and energy-efficient cold-storage facilities for SMEs and households in villages and remote rural areas. Beneficiaries are able to identify climate adaptation technologies through the GEFF Tajikistan-supported Green Technology Selector database.

The funding will be provided by the EBRD and the Green Climate Fund (GCF) in three tranches and will be available in both dollars and local currency.

The GEFF in Tajikistan, backed by the EU, the GCF and South Korea, is supporting equal gender access to green finance. 

“The GEFF is part of the EBRD’s recently announced plan to scale up its climate and environmental finance under the Green Economy Transition (GET) approach, according to which the Bank will aim to increase green financing to more than 50 per cent of its annual investment by 2025 while paying particular attention to gender considerations,” the statement said.

To date, the EBRD has invested €749mn via 136 projects in Tajikistan’s economy.

Related Articles

Profit of Russian VTB Bank down by 33% in 2M24

Russia’s second-largest bank state-controlled VTB posted a 33% year-on-year decline in net IFRS profit to RUB61.3bn, according to a report by the bank. VTB still plans ... more

Fitch sees “tangible” progress in Uzbek banking reform but warns further improvements may take longer

Fitch Ratings has issued a note highlighting “tangible” progress in the past four years in the reform of Uzbekistan's ... more

EBRD extends €75mn risk-sharing facility to Croatian bank PBZ

The European Bank for Reconstruction and Development (EBRD) has allocated a €75mn for risk-sharing facility to Privredna banka Zagreb (PBZ), a part of the Intesa Sanpaolo Group, as part of a new ... more

Dismiss