Country
Kyrgyzstan
Local Project Partner
Ministry of Economy and Trade
National Bank of the Republic of Kyrgyzstan
Banking Association
Association of Microfinance Institutions
German Project Partner
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Donor
GIZ
Duration
14.04.2023 - 01.10.2023
Kyrgyzstan is a member of PAGE, a joint initiative of five UN organisations that aims to transition to greener, more inclusive economies worldwide. In terms of access to green and sustainable finance, the "Roadmap for the Introduction of Sustainable Finance Principles in the Financial Sector of the Kyrgyz Republic" supported by the United Nations Development Programme (UNDP) and the planned national green finance system are important first steps.
However, the actual implementation of the relevant measures is delayed when it comes to creating and utilising effective access to green financing opportunities. Furthermore, there is not a good regulatory environment for banks and MFIs to integrate ESG aspects and green financing services. Effective stakeholder coordination is needed to create a framework for the "greening" of the financial sector.
The project aims to create a basic understanding of ESG issues in the context of climate change in workshops with financial sector stakeholders.
Tasks:
Organisation of a two-day workshop for representatives of key ministries and authorities, representatives of the National Bank, associations/associations of private financial institutions, business associations on sustainable financial systems with a focus on reviewing the draft green taxonomy.
Conduct a two-day workshop for National Bank staff on the role of regulators in greening the financial sector (role of financial regulators and financial institutions in incorporating green considerations, including climate risk assessment, into supervisory practices with a focus on the impact of these risks on banks' financial performance).
Develop and deliver a two-day workshop for employees of private financial institutions on ESG standards, policies and regulations in collaboration with the Bankers Association and the Association of Microfinance Institutions.
