Kyrgyz Republic GEFF (KyrSEFF III)

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

The establishment the Kyrgyz Republic Green Economy Financing Facility - GEFF (KyrSEFF III or The Facility).

The KyrSEFF III is envisaged to provide up to US$ 50 million to qualifying participating financial institutions (PFIs) with the objective to on-lending to GET-eligible green investments in the commercial and residential sectors of Kyrgyz Republic, with the addition of operating in a gender-responsive way. The Facility is expected to be supported with grant funds from the Shareholder Special Fund (SSF) and potentially other donors. The grant funds will fund Technical Cooperation (TC) to be provided to PFIs and sub-borrowers and Investment Incentives to sub-borrowers.

Project ID 53606

Status Approved

Location

Kyrgyz Republic

Business Sector

Financial Institutions

Notice Type

Private

Sub-projects

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Ainura Guppy
guppya@ebrd.com
+442007558
+442007558
www.ebrd.com
EBRD, 5 Bank Street Canary Wharf London E14 4BG United Kingdom

Project ID 53606

Status Approved

Location

Kyrgyz Republic

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

15 Nov 2022

Disclosure date

12 Oct 2022

Project description

The establishment the Kyrgyz Republic Green Economy Financing Facility - GEFF (KyrSEFF III or The Facility).

Project objectives

The Facility builds on the successful and well-established partnership of the EU, the EBRD and PFIs, and the enhanced public awareness about the benefits of energy efficiency investment through KyrSEFF I and II (2013 - 2022), leveraging its efficient client outreach and investment channels and responding to the priority of enhancing women's access to green finance and technologies.

Proceeds of the EBRD's investments will be used by eligible PFIs to on-lend to female and male sub-borrowers implementing green economy investments including among others energy efficiency, renewable energy, resource efficiency, the circular economy, and climate resilience investments measures. Funds may also be on-lent to vendors and producers of eligible materials and equipment covered by the Green Technology Selector for Kyrgyz Republic.

Client information

The Facility will be available to Partner Financial Institutions such as banks and non-bank lending institutions operating in Kyrgyz Republic.

EBRD Finance Summary

USD 50,000,000.00

EBRD will provide up to US$ 50 million of debt financing to eligible PFIs in Kyrgyz Republic. This financing will be provided in local and hard currencies.

Total project cost

USD 50,000,000.00

US$ 50 million of loan financing and € 8.2 million grant from Shareholder Special Fund and pontentially other donors, of which € 3.2 million will be used to cover technical assistance and € 5 million will be used for payment of incentive grants to eligible sub-borrowers.

Additionality

Additionality will be achieved through a combination of: (i) innovative financing structures and instruments; (ii) standard-setting and (iii) knowledge, innovation, and capacity building.

Environmental & Social Summary

It is anticipated that the PFIs under this framework which are existing clients of the Bank will already be familiar with the EBRD's E&S requirements applicable to FIs. New PFIs under this framework will have to complete the E&S Due Diligence questionnaire to be returned to ESD for review. Beneficiaries financed under this facility will be required to comply with national requirements for environment, health and safety, labor standards, and the E&S eligibility criteria for Renewable Energy projects, where applicable, as well as other GET eligibility criteria as per the GET Policy Statement. Any solar investments will be required to follow the Management Approach to solar. This will be confirmed to PFIs by a Facility Consultant engaged by the EBRD. All PFIs under the framework will be required to comply with EBRD's Performance Requirements 2, 4 and 9, adopt and implement the EBRD's E&S Risk Management Procedures for Micro, SME and Corporate Lending and E&S Risk Management Procedures for Mortgage Lending and submit Annual Environmental and Social Reports to the Bank, including reporting on sub-projects and their GET benefits. Sub-operations under the framework will be reviewed by ESD.

Technical Cooperation and Grant Financing

The Facility will be supported by a € 3.2 million TC package to engage a Facility Consultant (FC), responsible for overseeing the general operation of the Facility, for origination, review and approval of sub-projects and other services to help the EBRD achieve the goals of the Facility. This would include activities as follows: i) increasing financial intermediation for GET investments in the Kyrgyz Republic, ii) improving PFIs' skills in project appraisal of a wide range of eligible technologies, iii) raising awareness and building the capacity of the private sector to prioritise their investments in green technologies and services, and iv) mainstream gender considerations into lending operations. TC costs will be covered by Shareholder Special Fund and potentially other donors.

Company Contact Information

Ainura Guppy
guppya@ebrd.com
+442007558
+442007558
www.ebrd.com
EBRD, 5 Bank Street Canary Wharf London E14 4BG United Kingdom

PSD last updated

12 Oct 2022

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

Our story

How we invest in changing lives

What we offer for businesses

Search

Kyrgyz Republic GEFF (KyrSEFF III)

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)