Bailyk Finance provides affordable financial solutions to around 43,000 small businesses and households, predominantly in rural areas of Kyrgyzstan. For the coming three years, the expansion of green loans is one of the institution’s strategic pillars. Examples are loans for renewable energy sources, for the installation of solar powered fridges, heaters and dryers and loans for energy efficiency improvements of residential buildings, for example insulation.

Bailyk Finance has been working closely together with the International Finance Cooperation (IFC), a member of the World Bank Group, to develop and enhance its green loan offering. This includes training employees on the latest trends in green financing and assisting Bailyk’s existing and potential clients develop a construction and energy savings plan. So far, Bailyk’s clients have been able to save a total of USD 6 million in heating costs, resulting in 260,000 tonnes of avoided CO2 emissions.