Eldik Bank and UNDP Partner to Advance Green and Climate Finance in Kyrgyzstan

Eldik Bank and the United Nations Development Programme (UNDP) have signed a Memorandum of Understanding (MoU) to strengthen cooperation on sustainable development, green and climate-oriented economy, and the introduction of innovative financial instruments.

The partnership will focus on expanding the banking sector’s capacity to mobilize climate investments, developing and launching sustainable financial products, and integrating Environmental, Social, and Governance (ESG) standards into the operations of financial institutions.

“This cooperation opens new opportunities to scale up climate finance solutions in Kyrgyzstan’s banking sector. Together with UNDP, we aim to introduce products that promote green growth and sustainable business development for our clients,” said Ulanbek Nogaev, Chair of the Management Board of Eldik Bank.

The MoU also provides for active knowledge exchange and joint analytical work on climate and sustainable finance, including the development of tools for climate risk assessment and integration of climate factors into lending practices.

UNDP Resident Representative in Kyrgyzstan, Alexandra Solovieva, emphasized that the partnership combines UNDP’s international expertise with the potential of the financial sector to advance the climate transition. “UNDP supports the development of sustainable finance solutions that reduce the carbon footprint of the economy, enable the green transformation of businesses, and create new opportunities for investment,” she noted.

This cooperation supports Kyrgyzstan’s implementation of its international commitments under its updated Nationally Determined Contributions (NDC 3.0) to reduce greenhouse gas emissions, expand renewable energy, and strengthen climate resilience. In addition, UNDP is contributing to the development of financial markets as part of the implementation of the National Development Programme until 2030, which provides for the expansion of the regulatory framework for the development of green finance. Scaling up green and climate finance is a critical enabler of these goals, fostering private sector growth and sustainable development.