The European Bank for Reconstruction and Development (EBRD), which became fully aligned with the Paris Agreement at the start of 2023, is helping Kazakhstan to reduce energy consumption, promote the use of renewable energy sources and support local businesses in adopting environmentally friendly practices.

Hundreds of companies and thousands of households across the country will be able to modernise production, increase their energy efficiency and improve their climate resilience thanks to a new financing facility launched by the EBRD today.

The Bank is providing funds of up to US$ 150 million (in KZT equivalent) to participating financial institutions under the Kazakhstan Green Economy Financing Facility II (GEFF Kazakhstan II) for on-lending to individuals, private-sector companies and small and medium-sized businesses across the country.