OAO "Elk Bank" has become a pioneer among financial institutions in Kyrgyzstan by receiving accreditation from the Green Climate Fund (GCF), which is a leading global fund for financing climate initiatives.
The GCF Board made the decision to grant accreditation at its latest meeting. This status confirms that the bank meets international standards in corporate governance and environmental risk management, as well as its ability to structure and implement investment projects with the help of international financing.
The accreditation provides the bank with direct access to GCF resources and opens new horizons for long-term financing in Kyrgyzstan. This will allow for the development of projects aimed at increasing climate resilience, implementing energy-efficient technologies, and creating sustainable infrastructure across various sectors of the economy.
OAO "Elk Bank" views its accreditation as a key step in strengthening the position of the financial institution, which will contribute to attracting and rationally using international resources to support the sustainable development of the country.
Achala Abeysinghe, Director of the Investment Services Department of the Green Climate Fund, emphasized:
“We welcome OAO 'Elk Bank' among the accredited organizations of the Green Climate Fund. Receiving accreditation opens new opportunities for improving access to climate financing in Kyrgyzstan and attracting private sector investments to support national climate priorities.
The Green Climate Fund aims to collaborate with national financial institutions to enhance countries' accountability for climate actions and expand opportunities for sustainable investments. Future reforms of the GCF accreditation system will make the Fund's partnership model more transparent, flexible, and effective, strengthening the principles of fairness and accountability in the process.”
Ulanbek Nogaev, Chairman of the Board of OAO "Elk Bank," noted:
“Accreditation with the Green Climate Fund is an important achievement for Elk Bank. It confirms the bank's compliance with international requirements and readiness to work with global climate financing tools.
We view this status as a mechanism for attracting long-term resources and directing them to projects that are of significant importance for the economy of the Kyrgyz Republic. Our goal is to ensure the effective and transparent use of these funds to support sustainable development and enhance the country's climate resilience.”
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