Kyrgyzstan's Ministry of Finance reported on a joint visit with World Bank representatives to review a household's use of concessional financing under the Air Quality Improvement Project in the Kyrgyz Republic. The participating homeowner used the loan to install solar panels and a heat pump and reported that the equipment was operating effectively and reducing heating and energy costs. The existing lending program offers up to KGS 1 million at 6% annual interest for terms of up to five years. Funds can finance the purchase and installation of modern heating equipment and equipment that uses renewable energy. Residents of Bishkek and the Alamudun, Sokuluk and Issyk-Ata districts of Chuy region can obtain loans through participating commercial banks ABank, Eldik Bank and Bakai Bank. The ministry implements the project with World Bank support to reduce air pollution, including through cleaner and more efficient heating systems.
Kyrgyzstan's Ministry of Finance reviews household use of concessional clean heating loans
Kyrgyzstan's Ministry of Finance and World Bank representatives reviewed a household's use of an air quality project loan, with the borrower reporting lower energy costs after installing solar panels and a heat pump. The existing program offers up to KGS 1 million at 6% annual interest for up to five years. Financing is available through participating banks to residents of Bishkek and three districts in Chuy region.