The SWITCH-Asia “PERETO” project collaborates with Ijara company, a leasing company in Kyrgyzstan, to develop and launch a new financing instrument “Eco-leasing”. With a commitment to environmental, social, and governance (ESG) principles, Ijara Company has become a pioneering leasing company in the country to introduce the green financing solution.
The eco-leasing scheme enables individuals as well as business customers to finance the installation of modern green technologies that can help them reduce their environmental impacts, energy consumption, and greenhouse gas emissions. The eco-leasing covers a wide range of eco-friendly solutions such as heating and ventilation systems, solar collectors, biogas plants, heat pumps, energy-efficient technologies, resource-saving technologies, and electric vehicles.
One of the key financing advantages offered by Ijara is compliance with Islamic principles. The acquired technology eliminates the need for a collateral, making the green technology more accessible to businesses and individuals seeking sustainable leasing options. The eco-leasing supports both USD and KGS currencies, with lease amounts ranging from USD 5,000 to 300,000 or KGS 450,000 to 2,700,000. The leasing terms vary from 6 to 60 months for USD-based credit and 6 to 36 months for KGS-based credit.
The eco-leasing is the fourth green financing product developed through the PERETO project in collaboration with Kyrgyz banks and financial institutions. The project aims to support small and medium-sized entrepreneurs in the hotel, restaurant and café (HoReCa) sector with environmentally friendly financial solutions that enable them to shift to highly efficient technologies. The DosCredo Bank has started offering the "Eco-Tourism" financing scheme, while the Commercial Bank Kyrgyzstan now offers the "Green Tourism" finance. Bailyk Finance has introduced the "Green Loan for Renewable Energy technologies."
The PERETO project will continue engaging with banks and financial institutions to promote sustainable tourism practices and facilitate the adoption of green technologies in Kyrgyzstan's tourism industry. By empowering businesses and individuals to embrace environmentally responsible solutions, PERETO with its partners are driving positive changes and contributing to a greener future of the country.
For more information about the Eco-leasing and other sustainable financing options, please visit https://pereto.kg/businesses-information?type=2&language=en