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Direct financing of green projects

Purpose

Projects, in the directions specified in the Taxonomy of the State Development Bank:
- Financing of investment projects in the sectors according to item 3 of this Financing Program;
- projects aimed at improving the state of the climate: reduction of greenhouse gas emissions, increase in the absorption of greenhouse gases;
- projects aimed at improving the environment:
a) reduction of pollutant emissions;
c) reduction of specific emissions of pollutants into the atmospheric air from mobile sources of negative environmental impact (e.g. per kWh, tonne-kilometer, passenger-kilometer, etc.);
d) increasing the efficiency of the use of raw materials and inputs, as well as reducing the consumption of material and energy resources (electricity, heat, fuel, etc.);
e) reduction of specific indicators of natural resources consumption;
f) reduction of specific indicators of production and consumption waste generation, including through the introduction of low-waste and zero-waste technologies (e.g., per person, per unit of output, etc.), and reduction of waste hazard class; creation of a sustainable system of solid municipal waste management, ensuring waste sorting and reduction of waste sent to landfills;
f) increase in waste utilization rates;
g) increasing the share of normatively treated wastewater in the volume of wastewater discharged into surface water bodies requiring treatment, contributing to the reduction of concentrations of pollutants included in the list of pollutants in water in a water body to the maximum permissible level corresponding to the purpose of the facility and below;
h) improving the quality of drinking water for the population, including residents of settlements not equipped with modern centralized water supply systems;
i) increase in the area or length of restored water bodies and (or) creation of new water bodies;
j) increase in the length of the cleared coastal strip of water bodies;
k) increase in the area of reforestation and afforestation;
m) increase in the area of the territory where the disturbed state of the environment has been restored;
n) increase in the indicators of biodiversity conservation;
o) other significant environmental effects that make a significant contribution to the improvement of the environmental situation in the region where the sustainable development project(s) is (are) being implemented or in the area of the initiator's activities, provided that the requirements are met.

Financing sector

Business entities requesting financing in the following areas according to the State Development Bank's taxonomy:
- Renewable energy (wind, solar, geothermal, hydro, bioenergy, supply chain and supporting infrastructure for renewable energy);
- Energy efficiency (energy efficiency improvements in existing and under construction industrial and residential facilities, energy efficiency improvements in municipal buildings, energy efficient buildings, structures and facilities);
- green buildings (green buildings, related systems and building materials, green infrastructure);
- pollution prevention and control (air quality, soil);
- sustainable water and waste management (sustainable water use and water conservation, waste and wastewater, resource conservation and recovery);
- sustainable agriculture, land use, forestry, biodiversity conservation and eco-tourism;
- clean transport (“clean transport”, low-carbon vehicles, clean transport infrastructure, clean transport information and communication technologies).

Funding currency

- Kyrgyz som

Term of financing

up to 10 years (120 months)

Interest rate

6 (six) % per annum

Financing amounts

- The maximum loan amount per Borrower or group of related borrowers should not exceed 25% of the Bank's Net Total Capital;

- The minimum loan amount is KGS 10 mln.

Target group

Economic entities formed in the form of a joint-stock company, a closed joint-stock company, limited liability companies, cooperatives, peasant (farm) enterprises (with the formation of a legal entity) and state enterprises.

Options

Own contribution
The owner of the project must make its own contribution of at least 10% of the project cost (own contribution can be made in the form of cash, property, including intellectual property, land, fixed assets, etc.).
Provision for financing
- State guarantee, guarantees of international financial institutions, banks and JSC “Guarantee Fund of the Kyrgyz Republic”;
- State securities of the Kyrgyz Republic;
- Real estate, including land plots;
- Equipment, vehicles;
- Guarantees of third parties, the acceptability of which is assessed by the Bank in accordance with the Bank's Credit Policy;
- Other types of collateral in accordance with the Bank's Credit Policy.
Valuation of collateral
Assessment of the value of collateral property shall be carried out by an independent appraisal company included by the Bank in the list of partner companies and posted on the Bank's website. - The Bank reserves the right to change the valuation value.
Repayment schedule
- Interest - on a monthly/quarterly basis;
- Principal - according to the cash flows of the Borrower's business, but not less than 2 times a year.
Grace period
Interest repayment - up to 9 months;
On repayment of the principal debt - up to 12 months.
Insurance of the collateral
Insurance of the subject of pledge (in connection with the risk of death, loss, theft, damage, deterioration and illness) shall be determined by a decision of the Bank's Management Board for each project separately.
Interest rate for misuse of credit funds
In case of improper use of credit funds, the interest rate increases up to 20% per annum. The Bank reserves the right to enter information on misuse of credit funds by the client into the Credit Information Bureau. In case of non-compliance with the environmental effect specified in the application for financing, the interest rate for each tranche shall be increased by 5% per annum. The interest rate increase shall be implemented from the moment of establishing the fact of non-compliance with the declared environmental effect from the implementation of the green project.
Special conditions
- All expenses related to loan execution and registration of the pledged property shall be paid by the Borrower;
- The Borrower shall be responsible for the safety and proper use of the pledged property.
Restrictions
The Bank does not provide:
- unsecured credit;
- loans to individuals;
- loans in the presence of overdue liabilities on previously issued loans;
- loans to the Ministry of Finance of the Kyrgyz Republic, the Cabinet of Ministers of the Kyrgyz Republic, other state bodies and local authorities.
The bank also does not finance:
- Tobacco cultivation
- Hunting and trapping, including the provision of services in these areas
- Marine Fishing
- Freshwater fisheries
- Marine aquaculture
- Freshwater aquaculture
- Mining of hard coal
- Lignite mining
- Crude oil extraction
- Natural gas extraction
- Iron Ore Mining
- Mining of uranium and thorium ores
- Mining of other non-ferrous metal ores
- Mining of stone, clay and sand quarries
- Mining of decorative and building stone, limestone, gypsum, chalk and shale
- Development of gravel and sand quarries, extraction of clay and kaolin
- Extraction of mineral raw materials for the chemical industry and fertilizer production
- Extraction of peat
- Salt mining
- Other mining industries not included in other categories
- Technical services for oil and natural gas extraction
- Technical support for other mining and underground mining industries
- Distillation and blending of alcoholic beverages
- Manufacture of tobacco products
- Preparation and spinning of textile fibers
- Finishing of textile products
- Tanning and dressing of leather
Manufacture of suitcases, bags, saddlery
Dressing and dyeing of fur
- Tanning and dressing of leather
dressing and dyeing of fur
- Manufacture of coke oven products
- Manufacture of refined petroleum products
- Manufacture of basic chemicals, fertilizers and nitrogen compounds, plastics and synthetic rubber in primary forms (industrial gases, dyes and pigments, other basic inorganic and organic chemicals, fertilizers and nitrogen compounds, plastics in primary forms, synthetic rubber in primary forms)
- Manufacture of pesticides and other agrochemical products
- Manufacture of paints, varnishes and similar coloring substances, printing ink and mastic
- Manufacture of soaps and detergents, cleaning and polishing preparations, perfumes and cosmetics
- Manufacture of other chemical products (explosives, glue, essential oils, other chemical products)
- Manufacture of artificial fibers
- Manufacture of rubber tires and tubes, rubber tires restoration
- Manufacture of plastic products
- Manufacture of cement, lime and plaster
- Manufacture of iron, steel and ferroalloys
- Manufacture of pipes, tubes, pipes, profiles and fittings of steel
- Manufacture of other steel products by primary processing
- Manufacture of base noble and non-ferrous metals (including aluminum, lead, zinc and tin, copper)
- Nuclear fuel reprocessing
- Casting of metals (iron, steel, light metals, non-ferrous metals)
- Manufacture of weapons and ammunition
- Metal processing and coating of metals
- Manufacture of batteries and accumulators
- Manufacture of refrigeration equipment using ozone-depleting substances
- Manufacture of military combat vehicles
- Manufacture and distribution of gaseous fuels
- Manufacture of gas
- Construction of roads and railroads
- Demolition of existing structures and site preparation for construction (dismantling and demolition of buildings
site preparation works
drilling works)
- Wholesale of solid, liquid and gaseous fuels and related products
- Wholesale of metals and metal ores
- Wholesale of chemical products
- Wholesale of waste and scrap
- Retail sale of fuels in specialized stores
- Pipeline transportation
- Marine and coastal cargo transportation
- Gambling and betting activities
- gambling business
- military industry
- areas where forced child labor is used
- activities associated with the financing of terrorist activities and legalization (laundering) of proceeds of crime
- trade, production and other activities related to the use of weapons
- activities prohibited by the legislation of the Kyrgyz Republic.

*The Bank reserves the right to amend the terms of this Program.

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