LocationsGovernment and UNDP Launch Project to Strengthen National Capacity for Green and Climate Finance
June 18, 2025
Bishkek, 18 June 2025 - The Ministry of Natural Resources, Ecology and Technical Supervision of the Kyrgyz Republic, in partnership with the United Nations Development Programme (UNDP), has launched a new project to enhance the capacity of national financial institutions to access and deploy green and climate finance.
The initiative is aligned with the Kyrgyz Republic’s National Development Programme 2040 and Nationally Determined Contributions (NDCs) under the Paris Agreement, which aims to reduce greenhouse gas emissions by 43.62% by 2030.
“The launch of this project marks a shift from planning to execution. Our priority is to ensure that national institutions can independently manage, verify, and scale green and climate finance, aligned with Kyrgyzstan’s development goals,” said Kubat Kaseyinov, Deputy Minister of Natural Resources, Ecology and Technical Supervision.
With support from the Green Climate Fund (GCF), the initiative addresses key institutional and regulatory gaps in the financial sector. It will build foundations for a national verification and validation system for green finance in partnership with the relevant authorities and deliver targeted training for commercial banks and public institutions.
In parallel, the Project will develop recommendations on regulatory incentives and de-risking mechanisms to encourage financial institutions to expand their green lending portfolios. It will also support the operationalization of the recently adopted Green Taxonomy by providing practical guidance to regulators, tax and customs authorities, and the financial sector. To support investment mobilization, UNDP will assist national partners in preparing and submitting bankable project concepts to attract additional climate finance from the GCF and other sources.
“Financial institutions play a central role in translating climate goals into investable actions. This project introduces the systems and skills needed to operationalize the Green Taxonomy, scale green lending, and improve access to international climate finance,” said Alexandra Solovieva at the launch event.
The project will support national institutions including the Ministry of Economy and Commerce, the National Bank of the Kyrgyz Republic, the Climate Finance Center, the State Development Bank, the Union of Banks, and other public and private institutions. It will also provide targeted technical assistance to selected commercial banks.
The project responds to key bottlenecks identified in prior assessments, including insufficient regulatory guidance, limited institutional capacity to track green investments, lack of incentives for financial institutions, and low engagement with international finance mechanisms.
The Ministry of Natural Resources and the Climate Finance Center will lead project coordination to ensure full national ownership, technical consistency, and integration with existing green economy policies.
UNDP is the leading United Nations organization fighting to end the injustice of poverty, inequality, and climate change. Working with a broad network of experts and partners in 170 countries, we help nations build integrated, lasting solutions for people and planet. Learn more at undp.org/kyrgyzstan or follow @undpkg.
This project is made possible with support from the Green Climate Fund (GCF). The views expressed in this document do not necessarily reflect the views of the GCF.
Related
content
content
