BISHKEK, Kyrgyzstan, November 4. The European Investment Bank (EIB) provided $1 million in climate finance to Kyrgyzstan in 2022, Trend reports.
Data from EIB data reveals that this is a significant reduction compared to 2021, when the bank provided climate finance of $109 million to Kyrgyzstan.
Between 2015 and 2022, the total climate finance by EIB in Kyrgyzstan amounted to $825 million, with various yearly allocations, such as $73 million in 2015, $179 million in 2016, $55 million in 2017, $118 million in 2018, $189 million in 2019, and $101 million in 2020.
Climate finance is the allocation of financial resources to support projects and initiatives aimed at addressing and mitigating climate change. These funds can originate from both public and private sources and are utilized for the development of environmentally sustainable technologies, adaptation to climate change, and the reduction of greenhouse gas emissions.
Climate finance helps countries and companies implement projects that contribute to preserving the environment and curbing global warming.
Since the establishment of cooperation with Kyrgyzstan in 2017, the EIB has supported projects in key sectors of the Kyrgyz economy, including agriculture, fisheries, forestry, solid waste management, water and sewage infrastructure, and energy distribution.