The German Ministry of Environment is supporting the EBRD Sustainable Energy Initiative for Kazakhstan with the provision of €2 million to assist the launch of the Sustainable Energy Finance Facility. Under the program loans are being granted to private local banks for on-lending to enterprises for much-needed energy efficiency investments. The €50 million-initiative also finances investments in renewable energy projects in the industrial sector, reported EBRD representation in Kazakhstan press office.
The German contribution will be used to finance technical consultants whose task it will be to build capacity in participating banks, help them to reach clients, identify energy saving measures and draft relevant financing plans. The objective is to design, launch and implement the facility in close cooperation with participating banks and selected local engineers to enable prospective borrowers (privately owned industrial enterprises) to access loans for energy projects that the facility helps to identify and assess.
Recognizing the region’s significance need and potential for energy efficiency measures, the EBRD launched its Sustainable Energy Initiative in 2006. To-date, the Bank has invested more than €2 billion in energy efficiency projects.
