Kyrgyzstan has officially submitted the “green” labelling system of budget expenditures. This is an important step towards mobilizing resources to achieve national climate and environmental goals.

The initiative was presented by Deputy Finance Minister, Ruslan Tatikov and World Bank Country Manager, Hugh Riddell.

Talgat Aidarbek, Head of the Budget Policy Department of the Ministry of Finance, spoke about the main components of the new guidelines and its conceptual approach to labelling the “green” budget. According to him, the system is designed to bring public spending in line with the republic's commitments to ensure environmental sustainability and combat climate change.

In her turn, World Bank environmental economist Lila Raina emphasized the importance of cooperation in building capacity for green budgeting. In particular, in support of Kyrgyz nationally determined contributions.

The Senior Financial Director of the Ministry of Emergency Situations, Elvira Akmatova, also spoke at the presentation and shared the experience of the pilot program implementation and the preliminary results of the "green" budget labelling introduction in the ministry.

The main discussions during the event focused on the future introduction of the labelling system and potential areas of cooperation. The World Bank is providing technical assistance to develop innovative green finance options in support of this initiative, led by Deputy Minister of Finance, Zhibek Duisheeva from 2023.

As part of the pilot project, the Ministry of Natural Resources, and Ministry of Emergency Situations have been selected to implement green budget labelling. These efforts, supported by the Ministry of Finance and World Bank experts, are expected to be crucial in aligning the country's budget with its sustainable development aspirations.