European Bank for Reconstruction and Development (EBRD ) underGEFF Green Economy Financing Program in Kazakhstanoffers an opportunity for business entities and owners of households to modernize their businesses and housing with energy-efficient technologies, equipment, and materials. The program provides an incentive of 10% or 15% of the loan amount or the cost of investments in green technologies.
JSC Shinhan Bank Kazakhstan is a financial partner of the program GEFF and implements the green finance policy as one of the Bank’s priorities. Financial support is provided to business entities and private households for the realization of the following projects:
- energy-efficient modernization of buildings, including thermal insulation, modern solutions of facade systems, modernization of heating, air conditioning and ventilation, installation of energy-efficient windows and doors in residential and commercial premises;
- purchase of new household and industrial energy-efficient equipment and materials;
- acquisition of new and modernization of existing vehicles and equipment in agriculture, greenhouses, irrigation systems, and equipment for land preparation and seeding;
- installation of photovoltaic solar panels, geothermal heat pumps, water-saving irrigation systems;
- purchase of electric vehicles of any brand and much more.
A complete list of equipment for green technology solutions is published on the website of the Green Technology Selector- a global online database of energy-efficient equipment and materials related to world standards, EBRD requirements for energy saving and building codes of Kazakhstan.
A lot of Kazakh companies, private entrepreneurs, and owners of homes or businesses who invest in green technologies have participated in the program, purchased energy-efficient equipment with credit funds from JSC Shinkhan Bank of Kazakhstan, and received an incentive from Global Environment Facility (GEF). Austrian Federal Ministry of Finance finances the development and completion of the Green Technology Selector with eligible technologies, equipment and materials.
JSC Shinkhan Bank of Kazakhstan finances green technology projects under the following conditions:
EBRD GEFF credit line
from 3,000,000 tenge to 100,000,000 tenge (individuals), up to 2.5 billion tenge (legal entities)
liquid real estate covering 100 per cent of liabilities
The GEFF program operates in 28 countries through a network of more than 170 local financial institutions. The EBRD has already financed over 218,000 investment projects worth over €5 billion. Green projects helped to reduce CO2 emissions by more than 9.5 million tons per year.
By participating in the EBRD GEFF program, Shinhan Bank JSC contributes to building a carbon-neutral economy in Kazakhstan and developing energy-efficient solutions, thereby promoting the global process of reducing carbon intensity and climate vulnerability with a special priority on the greening of enterprises and households owned by both men, and women.