The iFIRST project, which stands for Innovative Financing for the Transition to Sustainable Energy, aims to reduce the negative effects of climate change and cut carbon emissions in the country. This was reported by the Ministry of Natural Resources, Ecology and Technical Supervision.
Financing details and project goals
The iFIRST initiative is being implemented with the support of the World Bank and the Carbon Asset Transformation Fund. According to the Ministry of Natural Resources, Ecology and Technical Supervision, financing of $35 million has been approved for the project, to be made available over 6 years.
The funds will be allocated in stages, directly depending on the achievement and verification of established greenhouse gas emissions reduction results. The initiative is also intended to help Kyrgyzstan meet its climate commitments and use natural resources rationally.
Participants in the project launch
The project launch event was attended by representatives of relevant agencies, including Deputy Minister of Natural Resources, Ecology and Technical Supervision Asel Raimkulova and First Deputy Minister of Energy Kursantbek Omurbekov. Representatives of the World Bank were also present.
