| Project Detail |
Location:
Tajikistan
Project number:
53454
Business sector:
Financial institutions
Notice type:
Private
Approval date:
01 Mar 2022
Status:
Approved
PSD disclosed:
10 Mar 2022
Project Description
The provision of a senior loan of up to US$ 3.0 million to Arvand Bank, of which up to US$ 2.25 million to be provided by the EBRD and up to US$ 0.75 million by the Green Climate Fund (GCF) under the GCF-Green Economy Financing Facility (GEFF) Regional Framework (Tajikistan).
Project Objectives
The proposed operation complies with the GCF GEFF Regional Framework criteria. This is a second loan under GCF GEFF Regional Framework to Arvand which follows the successful utilisation of the first loan signed in early 2021. Proceeds of the loan will be on-lent to private sector sub-borrowers in line with the GEFF Policy Statement. The project objective is to promote investments in efficient climate change mitigation and adaptation technologies. The transaction will support further expansion of Arvands product offerings with green lending products, in a gender responsive way.
Transition Impact
ETI score: 70
The project supports the Green TI quality through the provision of funding and know-how to financial intermediaries financing private sector investments in high performing climate change mitigation and adaptation technologies. This will support building a green economy in Tajikistan by facilitating the accelerated market penetration of climate technologies, particularly focusing on promotion of climate resilience and resource efficiency technologies applicable to the agricultural sector and rural areas including but not limited to drip irrigation, no till machinery, solar water heaters and solar PV. The project will also benefit from significant knowledge transfer and lessons learned from the previous green facilities with Bank Arvand (TajCREFF and GEFF). |
