UN Development Program subsidizes green projects in Kazakhstan
Small and medium-sized businesses in Kazakhstan can receive funds for the development of energy-saving technologies and the implementation of projects on renewable energy sources (RES). An appropriate funding program in the country is being implemented by the United Nations Development Program (UNDP) with financial assistance of the Global Environment Facility (GEF).
Currently, UNDP jointly with the Ministry of Energy, the Ministry of Industry and Infrastructure Development, and Damu Entrepreneurship Development Fund JSC are implementing the following initiatives: low-carbon urban development and the implementation of small-scale renewable energy projects.
As part of the first initiative, financial assistance mechanisms are provided for business representatives who have projects which implementation leads to energy savings in the city economy sectors, such as heat supply, water supply and sanitation, public and residential multi-apartment buildings, street and indoor lighting systems, etc. Participants are provided with favorable financing conditions: bank loan subsidies in the amount of 10 per cent, investment reimbursement up to 40 per cent and loan guarantees from DAMU Fund.
As for the initiative for the implementation of small-scale renewable energy projects, financial assistance can be received by SME representatives without restrictions on the type of activities and location. Participants in this project can also count on a reduced bank interest rate and investment subsidies up to 25%.
UNDP stressed that the outcomes of already implemented projects have displayed that 1 KZT of financial support attracts 6 KZT of investments and saves utility costs by 30-40 per cent. Thus, private companies benefit both economically and environmentally, reducing their carbon footprint and sustaining environment.
It is worth noting that it is planned to tell in detail about the UNDP financing program as part of the online seminar, which will be held on April 28 from 15:00 p.m. to 18:00 p.m.
This three-hour program will feature presentations of representatives of KAZAKH INVEST NC JSC on the state support measures for renewable energy projects in Kazakhstan, UNDP experts on financial instruments to support energy efficiency, financial experts, as well as representatives of the business community who have successfully implemented energy saving systems.
To participate in an online event, just download the ZOOM application in the AppStore or PlayMarket and follow the link below.
Link to the conference:
https://undp.zoom.us/j/94260242581pwd=dk1MZUJBaTFyV2VydGRwT2hSSEdOQT09
Password: 029062