PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

606853

Primary Business Area

Financial Institutions Group

Disclosure Date

Nov 29, 2022

Country

Central Asia and Turkiye Region

Region

Central Asia and Turkiye

IFC Approval Date

Feb 24, 2022

Status

Active

Estimated Total Budget

$370,850.00
(Project budget includes all project-funded activities)

Last Updated Date

Nov 30, 2022

Project Estimated Start Date

Feb 1, 2022

Project Estimated End Date

Dec 31, 2023

Project Description

Climate Finance is considered as a priority area for each country (Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan). By improving the market for climate finance, by providing support to institutions to implement better procedures and by disseminating information to the financial sector, the Program will improve the ability of the CAT region to sustainably develop a climate finance market and begin to facilitate new climate financing. The program covers the following 3 activities to advance climate finance and build the capacity of the local banks in the CAT region: Activity 1: Business development, market scoping and sector studies in target countries to enable banks/FIs to understand the need for capacity building (such as climate/green finance, enhancing ESG framework, etc.) in order to capture the opportunity. Activity 2: Undertake an assessment of banks/FIs that would lead to identifying 3-4 potential banks/FIs for improving climate finance flows. Activity 3: Promoting climate/green finance strategies and products in the CAT region. Support regulatory authorities and the private sector through workshops and public awareness in the introduction of green financial products and other instruments (green bonds/ green taxonomy).

Development Results

E&S Risks / Impacts and Mitigation