BAKU, Azerbaijan, October 30. The European Bank for Reconstruction and Development (EBRD) is ready to offer its expertise and financial resources to assist the authorities of Tajikistan in the development of a green economy and decarbonization, Holger Wiefel, the Head of Tajikistan for the EBRD told Trend.
He pointed out that the development of green economy and decarbonization plans are integral to Tajikistan's agenda. This is an irreversible global trend, and the country acknowledges the necessity and urgency of this endeavor.
Wiefel revealed that the EBRD has recently launched a $50 million initiative known as the Tajikistan Green Economy Financing Facility II (GEFF Tajikistan II). This program aims to promote higher standards of energy and resource efficiency and support the country's transition toward a more environmentally friendly economy.
"GEFF Tajikistan II will encourage residential and commercial borrowers to invest in green and innovative solutions that promote the efficient use of water and the sustainable management of land. Better access to green technologies and climate adaptation for businesses and households in the country badly affected by climate change," he elaborated.
According to him, GEFF Tajikistan II builds upon the foundation of the initial Green Economy Financing Facility I (GEFF Tajikistan I), which received support from the EU and was operational from 2019 to 2023. GEFF Tajikistan I effectively facilitated over 4,600 sub-projects, resulting in an annual production of more than 24,000 MWh of energy savings, a reduction of 5,195 tons in CO2 emissions, and a decrease in water consumption by 5.2 million cubic meters.
The bank has invested over 900 million euros in nearly 160 projects across the country during its 30-year-long cooperation. The EBRD funds have supported commendable entrepreneurial initiatives and vital upgrades in various sectors, spanning from energy and transportation to banking and small and medium-sized enterprises (SMEs).