Published
05/22/2025, 18:14The United Nations Development Programme (UNDP), together with the Ministry of Natural Resources, Ecology and Technical Supervision and with the participation of Eldik Bank, conducted a dedicated training on climate finance for commercial banks. The event is part of the ongoing preparation of Kyrgyzstan’s updated Nationally Determined Contribution (NDC 3.0) and aims to engage the financial sector in the implementation of the country’s climate commitments.
The banking sector is now seen not only as a participant in climate adaptation but also as an active partner in achieving national climate goals. Its engagement is becoming a strategic and equal component of the country’s climate architecture.
The event brought together leading commercial banks, key government ministries, international organizations, and financial institutions to discuss concrete actions that will enable the banking sector to not only adapt to climate change but actively contribute to national climate objectives.
«We count on the active involvement of banks in the NDC 3.0 preparation process — from assessing the costs of climate actions and developing financing mechanisms to exploring innovative solutions and, going forward, supporting the implementation and monitoring of our climate commitments», — said Asel Raimkulova, Deputy Minister of Natural Resources, Ecology and Technical Supervision of the Kyrgyz Republic.
Climate finance is becoming an essential part of Kyrgyzstan’s sustainable economic trajectory. Participants explored the integration of green financial instruments, ESG principles, green bonds, sustainable credit lines, and climate risk assessment systems into banking practices.
Alexandra Solovieva, UNDP Resident Representative in Kyrgyzstan, announced a newly approved project developed jointly with the Government and the National Bank: «Our goal is to strengthen the capacity of national financial institutions, expand access to green finance, and create enabling conditions for climate investment».
The training focused on developing the NDC 3.0 — Kyrgyzstan’s national climate action plan — which will serve as a blueprint for transitioning to a carbon-neutral economy.
«Eldik Bank is actively advancing ESG approaches, introducing green products, and striving to become a driver of sustainable transformation. I am confident that initiatives like this offer powerful momentum for joint solutions in the name of our shared future», — said Ulanbek Nogoev, Chair of the Board, Eldik Bank.
The Government is working on a new Green Economy Development Programme through 2029, with a particular focus on green energy as a core vector of development and climate adaptation. One of the programme’s goals is to position Kyrgyzstan among the top 30 countries in achieving the Sustainable Development Goals (SDGs). A green taxonomy is also being introduced to guide the evaluation and financing of environmentally sustainable projects.
President Sadyr Japarov has repeatedly reaffirmed Kyrgyzstan’s commitment to the Paris Agreement, including the target to reduce greenhouse gas emissions by 44% by 2030 and to reach carbon neutrality by 2050.
Kyrgyzstan is already experiencing the consequences of climate change — glacier melt, water insecurity, and threats to food security. Therefore, involving banks and investors is critical not only for the country’s climate agenda but also for its economic strategy.
Following an active exchange, participants developed proposals and recommendations for inclusion in NDC 3.0, reflecting the needs and realities of Kyrgyzstan’s financial market.
The event confirmed that Kyrgyzstan is building a national climate finance architecture — a result of joint efforts by the government, financial sector, and international partners, and a vital step toward meeting the goals of the Paris Agreement.
The preparation of NDC 3.0 is supported by UNDP under its global Climate Promise initiative, in partnership with the United Nations System in Kyrgyzstan.
