(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, September 10. Eldik Bank and the United Nations Development Programme (UNDP) have signed a Memorandum of Understanding (MoU) to boost cooperation on sustainable development, green finance, and climate-oriented economic initiatives in Kyrgyzstan, Trend reports via the UNDP.

The partnership aims to expand the banking sector's capacity to mobilize climate investments, develop sustainable financial products, and integrate Environmental, Social, and Governance (ESG) standards into financial institutions' operations.

“This cooperation opens new opportunities to scale up climate finance solutions in Kyrgyzstan's banking sector. Together with UNDP, we aim to introduce products that promote green growth and sustainable business development for our clients,” said Ulanbek Nogaev, Chair of Eldik Bank's Management Board.

The MoU also outlines knowledge-sharing and joint analytical work on climate and sustainable finance, including tools for climate risk assessment and the integration of climate factors into lending practices.

Alexandra Solovieva, UNDP Resident Representative in Kyrgyzstan, stated that the partnership leverages UNDP's international expertise and the banking sector's potential to advance the country's climate transition.

“UNDP supports sustainable finance solutions that reduce the economy's carbon footprint, enable green transformation of businesses, and create new investment opportunities,” she said.

The collaboration aligns with Kyrgyzstan's updated Nationally Determined Contributions (NDC 3.0) to cut greenhouse gas emissions, expand renewable energy, and strengthen climate resilience. It also supports the implementation of the National Development Programme through 2030, including the expansion of regulatory frameworks for green finance and the promotion of private sector growth.

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