BAKU, Azerbaijan, June 6. Kyrgyzstan has registered the first issue of 85,000 green bonds worth 85 million Kyrgyz som ($971,702) at Service for Regulation and Supervision of the Financial Market, Trend reports.
The bonds belong to DosCredoBank OJSC.
Green bonds are financial instruments used for funding environmental projects. The proceeds from the sale of green bonds are directed towards funding environmentally friendly and energy-efficient projects, such as the construction of solar and wind power plants, improving energy efficiency in buildings, waste management, and more.
The purpose is to raise funds for financing green projects in Kyrgyzstan. The following priority areas and projects have been identified:
- construction of houses and buildings using environmentally friendly materials and incorporating green and energy-efficient technologies;
- support for women entrepreneurs and youth in implementing various green technologies in agriculture on preferential terms;
- promotion of eco-friendly transportation and installation of charging stations for electric vehicles;
- support for the tourism sector through financing the installation of wastewater treatment facilities, water-saving technologies, and implementation of various green technologies on preferential terms.
In order to implement the principles of sustainable finance and gradually integrate them into operational activities, DosCredoBank OJSC has established a special Green Finance Department.