On July 12, 2024, the Memorandum of Cooperation between the State Development Bank of the Kyrgyz Republic and the Union of Banks of Kyrgyzstan was officially signed. The parties confirmed their intention to continue work related to sustainable development and support environmentally friendly investment projects.

The memorandum is aimed at consolidating partnerships and effective cooperation on the development and support of green finance initiatives. The main areas of cooperation will include the development of green finance, the implementation of ESG principles, raising awareness and professionalism of financial sector employees, and the organization of expert advice on green economy and sustainable finance in the Kyrgyz Republic. The parties will actively promote the principles of sustainable development and environmental responsibility in their activities and among their partners.

Chairman of the Board of the State Development Bank Temirbekov M.A. noted: “Green financing and ESG are one of the key directions in the strategy of the State Development Bank for sustainable development. For the State Development Bank, cooperation with the Union of Banks of Kyrgyzstan is not just membership in the union, but also confidence that our cooperation will lead to positive changes in the field of environmental sustainability and create new opportunities for growth and development for both us and our partners.”

The Memorandum will become the basis for further cooperation and assistance to the activities of partner banks and other financial and credit organizations in the field of green finance and sustainable development.