Data on climate change and environmental degradation has increased the demand for a more sustainable economy. Making Kyrgyzstan's economy more sustainable means changing consumption and production patterns towards a more sustainable future: doing more and better with less. Green finance is crucial for reducing carbon emissions and can help accelerate the shift to a carbon-neutral or green economy.
What is green finance?
Green Finance implies financial investments flowing into sustainable development projects and initiatives, environmental products, and policies that encourage the development of a more sustainable economy. Green finance includes climate finance, but is not limited to it. It also refers to a wider range of other environmental objectives, such as industrial pollution control, water sanitation or biodiversity protection (In Global Environment Facility, 2017).
Investments in long-term profitable, environmentally friendly firms are gaining popularity on a global scale. These new trends will also affect the Hotel, Restaurant, Café (HORECA) sector's siting, design, building, and operation. The EU SWITCH-Asia PERETO project is committed to aid HORECA and tourism medium-sized businesses in exploring more environmentally friendly and sustainable business models, as well as to encourage and support financial institutions in the development and use of green financing instruments in Kyrgyzstan.
In collaboration with Dos Credobank, we have created a brand-new green loan called 'Eco-tourism' to advance the tourism sector and the use of green technology. We firmly believe that by assisting small and medium-sized businesses to integrate the concepts of the circular economy into their operations, we will significantly contribute to the economy of Kyrgyzstan in line with the Sustainable Development Goals, stressed Nurzat Abdyrasulova, President of Unison Group.
The Dos Credobank staff has received specialised training on energy-efficient technologies from PERETO Experts of the Unison Group, and is now ready to begin issuing the 'Eco-tourism' green loan.
For which purposes is the "Eco-tourism" loan issued?
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Insulation of buildings to reduce heating and cooling expenses;
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Introduction of green and renewable energy technologies;
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Water conservation - drip irrigation, sewage treatment plants, and rainwater harvesting;
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Improving heating, cooling, and ventilation systems;
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Energy efficient lighting and energy and water saving equipment;
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Purchase of trash bins for waste sorting, as well as for the purchase of a press for packing used plastic;
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Other energy- and resource-saving activities
Who can get the "Eco-tourism” loan?
- Individual (private) entrepreneurs with experience in the tourism sector and hotel services for at least 6 months, with supporting documents;
- The legal entities: cafes, restaurants, hotels, guest houses, yurt camps, sanatoriums and health resorts.
Loan terms and conditions:
Currency: KGS
Amount: from 500 000 to 8 million
Terms: 3 to 24 months
Borrower's age: 20 to 70
Why is “Eco-tourism” a beneficial loan?
Bonus: Dos Credobank offers its clients cashback (repayment of interest on the loan) – 10% of the amount of interest paid on the loan after full repayment of a loan.
How to get a free advice about the loan?
You can contact Dos Credobank . Moreover, PERETO experts are ready to provide FREE advisory services to HoReCa and tourism entrepreneurs to help them reduce operational costs and minimise their impact on the environment. Contact information for the PERETO consultants is available here.
SWITCH-Asia PERETO - Promotion of energy security and sustainable growth through increased energy and resource efficiency in tourism SMEs in Kyrgyzstan
Fosters the adoption of SCP and energy and resource efficiency measures through the introduction of different tools and training while promoting the adoption of voluntary green certification; develops an online Self-Assessment Tool for MSMEs; promotes access to green finance for MSMEs of the tourism sector in order for them to adopt SCP and resource efficiency measures, while creating appropriate enabling environment for related policies.
