Eldik Bank and the United Nations Development Programme (UNDP) have signed a Memorandum of Understanding (MoU) to accelerate Kyrgyzstan’s shift toward a green and climate-resilient economy. The agreement paves the way for closer cooperation on sustainable development, climate finance, and the creation of innovative financial products.
The partnership will strengthen the banking sector’s ability to mobilize climate investments, launch sustainable financial instruments, and embed Environmental, Social, and Governance (ESG) standards across financial operations.
“This cooperation opens new opportunities to scale up climate finance solutions in Kyrgyzstan’s banking sector,” said Ulanbek Nogaev, Chair of the Management Board of Eldik Bank. “Together with UNDP, we aim to introduce products that promote green growth and sustainable business development for our clients.”
The MoU also outlines joint analytical work and knowledge exchange on climate and sustainable finance. This includes the development of tools for climate risk assessment and the integration of climate considerations into lending practices.
UNDP Resident Representative in Kyrgyzstan, Alexandra Solovieva, underscored the importance of the partnership, noting that it brings together UNDP’s global 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 said.
The cooperation contributes to Kyrgyzstan’s commitments under its updated Nationally Determined Contributions (NDC 3.0), which aim to cut greenhouse gas emissions, expand renewable energy, and build climate resilience. It also supports the National Development Programme until 2030, which calls for stronger financial markets and an expanded regulatory framework for green finance.
Scaling up climate finance, both public and private, is seen as a key driver of sustainable growth in Kyrgyzstan, helping businesses transition to greener models while strengthening the country’s long-term economic resilience.
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