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Astana, Kazakhstan • 03 April, 2023 | 13:23

Bank CenterCredit Is Leading in Green Financing in Kazakhstan

The first GEFF partner in Kazakhstan was awarded for best environmental practices

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Qazaqstan Monitor:  Bank CenterCredit Is Leading in Green Financing in Kazakhstan

On March 27th, an event was held in Almaty to commemorate the launch of the Green Economy Financing Facility (GEFF II) in Kazakhstan. The event was attended by financial institutions and international organizations.

An awards ceremony was also held for partners, with Bank CenterCredit winning the "Best Environmental Performance of the Project Portfolio" award. CenterCredit is the first partner bank in the country to support the EBRD's global GEFF initiative. As previously announced, the EBRD will provide $150 million to financial institutions for lending to individuals, small and medium-sized businesses, as well as suppliers and manufacturers of green technologies.

Thanks to the EBRD program, our bank has been able to finance Kazakhstani entrepreneurs under the GEFF program since 2021. We are committed to an ESG strategy and place great importance on supporting the green economy. This is an opportunity for further economic growth and increased viability in the global market. We have made great strides so far, but there are even larger-scale projects ahead. 

Rustam Tenizov, First Deputy Chairman of the Board of Bank CenterCredit JSC

The event also featured a panel discussion titled "Green Breakthrough: How the Transition to Green Economy is Changing Kazakhstan's Financial Sector". The main idea discussed was the inevitability of the transition to a green economy in today's world. Kazakhstan cannot remain indifferent to global trends. The green economy is not a luxury but a necessity for humanity in the 21st century. Participants in the panel discussion also discussed the challenges faced by businesses and households, as well as the opportunities provided to the financial sector through the GEFF program.

The GEFF program in Kazakhstan is part of the EBRD’s Green Economy Financing Facility global initiative, which operates in 29 countries through more than 188 local financial institutions. GEFF has already helped implement 200,000 investment projects. The program aims to modernize homes and businesses through energy-efficient and resource-saving technologies to reduce electricity and water consumption, production and consumption, and minimize negative impacts on the environment and the climate.

Bank CenterCredit JSC, established in 1988, is one of the first and largest commercial banks in Kazakhstan, with a universal business model focused on convenient banking products using modern technology. The bank has a wide branch network and serves legal entities and individuals in more than 160 branches in all regions of Kazakhstan.

*ARDFM License №1.2.25/195/34 issued on 03.02.2020

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