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Improving access to international financing for “green” projects in Central Asia

27.11.2017
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Promoting a green economy and finding sustainable solutions to water, energy efficiency and waste management related issues are at the top of national development agenda in all Central Asian countries. To discuss available opportunities and ways to improve access to international financing, representatives of the Central Asian governments, the European Union (EU), International Financial Institutions (IFIs), international and regional organizations, and NGOs gathered in Almaty on 23-24 November 2017 for a workshop on access to international investments in water, energy efficiency and waste management infrastructure.

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ALMATY - Promoting a green economy and finding sustainable solutions to water, energy efficiency and waste management related issues are at the top of national development agenda in all Central Asian countries. To discuss available opportunities and ways to improve access to international financing, representatives of the Central Asian governments, the European Union (EU), International Financial Institutions (IFIs), international and regional organizations, and NGOs gathered in Almaty on 23-24 November 2017 for a workshop on access to international investments in water, energy efficiency and waste management infrastructure.

The workshop participants discussed practical ways to improve the process for preparing bankable projects. Particular attention was paid to key directions for action to catalyse investment through other considerable sources for financing “green” projects – the Green Climate Fund and the EU Investment Facility for Central Asia (IFCA). Financial capacity of the private sector was also reviewed.

Following the proposals made at the 6th meeting of the EU-Central Asia Working Group on Environment and Climate Change (WGECC), chaired by the Italian Ministry of Environment, Land and Sea since its establishment in 2009, the EU-funded project WECOOP2 presented the concept of the web-based Knowledge Centre and the draft Investor Guide aimed to help state authorities better understand the IFIs requirements. The Knowledge Centre will provide information and advice on IFIs project cycle, eligibility and selection criteria, as well as on the project pipelines and how to prepare bankable project proposals. The Investor Guide and the work on establishing the Knowledge Centre are to be completed by February 2018.

The countries of Central Asia should now take advantage of the international momentum for implementing climate and environment related projects. “Paris Agreement calls for greater efforts to tackle climate change, and the regional pipeline for GCF is currently being defined. Being in the middle of diverse cultural, economic and environmental regions, the Central Asian countries can enhance their role of a bridge between Asia and Europe, also by taking the lead in implementing environmentally sound infrastructure projects,” highlighted Ms Alessandra Fidanza on behalf of the Italian Ministry of Environment. She also stressed the importance of the WGECC in facilitating the connection between European and Central Asian countries.

The European Union and IFIs support the Central Asia region’s “green” growth. "With this event we aimed to build a bridge between policymakers and regulators in the field of environment, water and climate change and potential investors in infrastructure projects. This workshop gathered together representatives of the governments, IFIs, the Green Climate Fund and the private sector. We are confident that the results of our workshop will be tangible and have a long-term positive impact on the environment and standards of living in Central Asia," said Mr Johannes Stenbaek Madsen, Head of Cooperation Section, EU Delegation to Kazakhstan. 

Background information

The second phase of the EU-Central Asia enhanced Regional Cooperation on Environment, Climate Change and Water (WECOOP2) project, launched by the European Union (EU) in August 2016, aims at strengthening the dialogue between the Central Asia partners and at facilitating their cooperation with the EU on environment and climate change.

The Platform for Environment and Water Cooperation was established at the EU-CA High Level (Ministerial) Conference in Rome (Italy) in 2009 as the framework for the EU-CA cooperation in water and environment based on the EU Strategy for Central Asia agreed with the CA states. The EU-CA Working Group on Environment and Climate Change (WGECC) assists in the identification of regional cooperation priority actions and supports the Platform by strengthening policy dialogue and cooperation at the regional level and between EU and CA.

For additional information, please contact Nurgul Smagulova, Event Coordinator, WECOOP2: + 7 (7172) 550 762, e-mail: nurgul.smagulova@mwhglobal.com, or Elnara Bainazarova, Press Secretary, EU Delegation to Kazakhstan, email: elnara.bainazarova@eeas.europa.eu

Topics
Environment and climate change
Water Diplomacy
Editorial sections
Kazakhstan