Bishkek, 25 September 2026 – The United Nations Development Programme (UNDP) in the Kyrgyz Republic conducted a series of practical trainings on Validation, Verification and Reporting (VVR) systems as part of the project “Strengthening the Capacity of National Financial Institutions to Attract and Utilize Green and Climate Finance.”

The trainings took place on 22, 24 and 25 September 2026 for representatives of Eldik Bank OJSC, Frontiers MCC and other microfinance organizations, as well as the State Development Bank of the Kyrgyz Republic. Participants included specialists from credit and risk management departments, ESG teams, project finance units, compliance functions, and other staff involved in project financing and monitoring processes.

Through this initiative, UNDP supports national financial institutions in establishing and improving VVR systems required for the effective management of green and climate investments. Such systems help ensure transparency, accountability, and compliance with international requirements when attracting and utilizing climate finance.

The trainings focused on the practical integration of the VVR methodology into the operations of financial institutions. Participants were introduced to the key principles underpinning validation, verification and reporting systems, explored the full cycle of a green finance transaction, and reviewed practical tools and internal procedures developed to reflect the specific needs and operational contexts of each institution.

Particular attention was given to the distribution of roles and responsibilities within financial institutions, risk management, monitoring and reporting processes, and mechanisms for confirming that projects meet green finance criteria. To reinforce participants’ knowledge and practical skills, the trainings included interactive exercises, business simulations, and a case study on financing a solar power plant.

Approximately 90 representatives of the financial sector took part in the training activities, including employees of banks, microfinance organizations and state financial institutions, as well as UNDP representatives.

The development of VVR systems is an important step towards expanding Kyrgyzstan’s access to international sources of green and climate finance. Strengthening the institutional capacity of the financial sector will help improve the quality of project selection, monitoring and reporting for green investments, while also enhancing confidence among international partners and investors.

The project “Strengthening the Capacity of National Financial Institutions to Attract and Utilize Green and Climate Finance” is implemented by UNDP with support from the Green Climate Fund (GCF) Readiness Programme. It aims to strengthen the regulatory framework, enhance the institutional capacity of the financial sector, and create enabling conditions for more effective mobilization of climate finance in the Kyrgyz Republic.