The interest rate on subsidised loans for eco-friendly heating has been reduced to 6% for residents of Bishkek

Residents of Bishkek and the Alamudun and Sokuluk districts will be able to access subsidised financing for the installation of eco-friendly heating systems at an interest rate of 6 per cent per annum. The maximum loan amount for individuals is up to 1 million KGS.

The Ministry of Natural Resources, in collaboration with the Ministry of Finance of Kyrgyzstan, has expanded the preferential financing programme as part of the ‘Improving Air Quality’ project.

The interest rate on loans for the purchase and installation of environmentally friendly heating systems has now been reduced to 6 per cent per annum for the general public. The funding is available to residents of Bishkek, the Alamudun and Sokuluk districts, as well as to businesses.

Under the terms of the programme, residents can obtain a loan:

• for up to 1 million KGS;
• for a term of up to 60 months;
• at 6 per cent per annum.

For equipment suppliers, financing of up to 5 million KGS is available for a term of up to 60 months at a rate of 10 per cent per annum.

The funds may be used for the purchase and installation of heat pumps, electric boilers, infrared heaters, solar collectors, photovoltaic panels, energy storage systems and other equipment that helps to reduce pollutant emissions.

Preferential financing is provided through the project’s partner banks — ‘ABank’, ‘Eldik Bank’ and ‘Bakay Bank’. Loans are granted solely for the specific purpose of purchasing and installing equipment designed to reduce emissions and energy consumption.