Kyrgyz Republic GEFF (KyrSEFF III)

Mission Description

The institution the Kyrgyz Republic Inexperienced Financial system Financing Facility – GEFF (KyrSEFF III or The Facility).

The KyrSEFF III  is envisaged to offer as much as US$ 50 million to qualifying collaborating monetary establishments (PFIs) with the target to on-lending to GET-eligible inexperienced investments within the industrial and residential sectors of Kyrgyz Republic, with the addition of working in a gender-responsive means. The Facility is anticipated to be supported with grant funds from the Shareholder Particular Fund (SSF) and probably different donors. The grant funds will fund Technical Cooperation (TC) to be offered to PFIs and sub-borrowers and Funding Incentives to sub-borrowers.

Mission Goals

The Facility builds on the profitable and well-established partnership of the EU, the EBRD and PFIs, and the improved public consciousness about the advantages of vitality effectivity funding by way of KyrSEFF I and II (2013 – 2022), leveraging its environment friendly consumer outreach and funding channels and responding to the precedence of enhancing ladies’s entry to inexperienced finance and applied sciences.  

Proceeds of the EBRD’s investments might be utilized by eligible PFIs to on-lend to feminine and male sub-borrowers implementing inexperienced economic system investments together with amongst others vitality effectivity, renewable vitality, useful resource effectivity, the round economic system, and local weather resilience investments measures. Funds might also be on-lent to distributors and producers of eligible supplies and gear coated by the Inexperienced Know-how Selector for Kyrgyz Republic. 

Transition Impression

The KyrSEFF III will promote the transition to an environmentally sustainable, low-carbon and climate-resilient economic system in Kyrgyz Republic, stopping the nation from being locked right into a carbon-intensive, climate-vulnerable and/or environmentally damaging polluting pathway. That is anticipated to be achieved by way of provision of funding and know-how to monetary intermediaries to finance excessive performing local weather mitigation and adaptation applied sciences and options.

The ability will contain adjustments to the enterprise mannequin and product vary of the PFIs. It’s going to have constructive demonstration results notably with respect to utilising monetary intermediaries for investments leading to local weather mitigation and adaptation actions, additionally in view of rising worldwide requirements and rules growing strain on non-financial disclosure by FIs and corporations and the necessity to shift operations and portfolios in direction of alignment with the Paris Settlement. 

Consumer Data

The Facility might be out there to Companion Monetary Establishments equivalent to banks and non-bank lending establishments working in Kyrgyz Republic.

EBRD Finance Abstract

USD 50,000,000.00

EBRD will present as much as US$ 50 million of debt financing to eligible PFIs in Kyrgyz Republic. This financing might be offered in native and laborious currencies.

Whole Mission Value

USD 50,000,000.00

US$ 50 million of mortgage financing and € 8.2 million grant from Shareholder Particular Fund and pontentially different donors, of which € 3.2 million might be used to cowl technical help and € 5 million might be used for cost of incentive grants to eligible sub-borrowers.

Additionality

Additionality might be achieved by way of a mixture of: (i) modern financing buildings and devices; (ii) standard-setting and (iii) information, innovation, and capability constructing.

Environmental and Social Abstract

It’s anticipated that the PFIs underneath this framework that are current purchasers of the Financial institution will already be acquainted with the EBRD’s E&S necessities relevant to FIs. New PFIs underneath this framework should full the E&S Due Diligence questionnaire to be returned to ESD for assessment. Beneficiaries financed underneath this facility might be required to adjust to nationwide necessities for surroundings, well being and security, labor requirements, and the E&S eligibility standards for Renewable Power tasks, the place relevant, in addition to different GET eligibility standards as per the GET Coverage Assertion. Any photo voltaic investments might be required to observe the Administration Strategy to photo voltaic. This might be confirmed to PFIs by a Facility Advisor engaged by the EBRD. All PFIs underneath the framework might be required to adjust to EBRD’s Efficiency Necessities 2, 4 and 9, undertake and implement the EBRD’s E&S Threat Administration Procedures for Micro, SME and Company Lending and E&S Threat Administration Procedures for Mortgage Lending and submit Annual Environmental and Social Reviews to the Financial institution, together with reporting on sub-projects and their GET advantages. Sub-operations underneath the framework might be reviewed by ESD. 

Technical Cooperation and Grant Financing

The Facility might be supported by a € 3.2 million TC bundle to interact a Facility Advisor (FC), chargeable for overseeing the final operation of the Facility, for origination, assessment and approval of sub-projects and different companies to assist the EBRD obtain the objectives of the Facility. This would come with actions as follows: i) growing monetary intermediation for GET investments within the Kyrgyz Republic, ii) enhancing PFIs’ expertise in challenge appraisal of a variety of eligible applied sciences, iii) elevating consciousness and constructing the capability of the non-public sector to prioritise their investments in inexperienced applied sciences and companies, and iv) mainstream gender issues into lending operations. TC prices might be coated by Shareholder Particular Fund and probably different donors.

Firm Contact Data

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

PSD final up to date

12 Oct 2022

Understanding Transition

Additional data concerning the EBRD’s method to measuring transition affect is accessible right here.

Enterprise alternatives

For enterprise alternatives or procurement, contact the consumer firm.

For enterprise alternatives with EBRD (not associated to procurement) contact:

Tel: +44 20 7338 7168

Electronic mail: projectenquiries@ebrd.com

For state-sector tasks, go to EBRD Procurement:

Tel: +44 20 7338 6794

Electronic mail: procurement@ebrd.com

Basic enquiries

Particular enquiries may be made utilizing the EBRD Enquiries kind.

Environmental and Social Coverage (ESP)

The ESP and the related Efficiency Necessities (PRs) set out the methods by which the EBRD implements its dedication to selling “environmentally sound and sustainable growth”.  The ESP and the PRs embody particular provisions for purchasers to adjust to the relevant necessities of nationwide legal guidelines on public data and session in addition to to determine a grievance mechanism to obtain and facilitate decision of stakeholders’ considerations and grievances, particularly, about environmental and social efficiency of the consumer and the challenge. Proportionate to the character and scale of a challenge’s environmental and social dangers and impacts, the EBRD moreover requires its purchasers to reveal data, as acceptable, in regards to the dangers and impacts arising from tasks or to undertake significant session with stakeholders and contemplate and reply to their suggestions.

Extra data on the EBRD’s practices on this regard is about out within the ESP.

Integrity and Compliance

The EBRD’s Workplace of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the best requirements of integrity are utilized to all actions of the Financial institution in accordance with worldwide finest apply. Integrity due diligence is carried out on all Financial institution purchasers to make sure that tasks don’t current unacceptable integrity or reputational dangers to the Financial institution. The Financial institution believes that figuring out and resolving points on the challenge evaluation approval phases is the simplest technique of making certain the integrity of Financial institution transactions. OCCO performs a key function in these protecting efforts, and in addition helps to watch integrity dangers in tasks post-investment.

OCCO can also be chargeable for investigating allegations of fraud, corruption and misconduct in EBRD-financed tasks. Anybody, each inside or outdoors the Financial institution, who suspects fraud or corruption ought to submit a written report back to the Chief Compliance Officer by e-mail to compliance@ebrd.com. All issues reported might be dealt with by OCCO for follow-up. All stories, together with nameless ones, might be reviewed. Reviews may be made in any language of the Financial institution or of the Financial institution’s nations of operation. The knowledge offered should be made in good religion.

Entry to Data Coverage (AIP)

The AIP units out how the EBRD discloses data and consults with its stakeholders in order to advertise higher consciousness and understanding of its methods, insurance policies and operations following its entry into pressure on 1 January 2020. Please go to the Entry to Data Coverage web page to search out out what data is accessible from the EBRD web site.

Particular requests for data may be made utilizing the EBRD Enquiries kind.

Impartial Mission Accountability Mechanism (IPAM)

If efforts to handle environmental, social or public disclosure considerations with the Consumer or the Financial institution are unsuccessful (e.g. by way of the Consumer’s Mission-level grievance mechanism or by way of direct engagement with Financial institution administration), people and organisations might search to handle their considerations by way of the EBRD’s Impartial Mission Accountability Mechanism (IPAM).

IPAM independently opinions Mission points which are believed to have induced (or to be prone to trigger) hurt. The aim of the Mechanism is: to assist dialogue between Mission stakeholders to resolve environmental, social and public disclosure points; to find out whether or not the Financial institution has complied with its Environmental and Social Coverage or Mission-specific provisions of its Entry to Data Coverage; and the place relevant, to handle any current non-compliance with these insurance policies, whereas stopping future non-compliance by the Financial institution.

Please go to the Impartial Mission Accountability Mechanism webpage to search out out extra about IPAM and its mandate; the best way to submit a Request for assessment; or contact IPAM  through e-mail ipam@ebrd.com to get steerage and extra data on IPAM and the best way to submit a request.