The Cabinet of Ministers of Kyrgyzstan approved a resolution to establish an open joint-stock company Green Finance Fund. The fund will serve as a state institution to support sustainable development and green initiatives.
It will be created with 100 percent state ownership and an authorized capital of 100,000 soms, divided into 1,000 ordinary shares with a nominal value of 100 soms each.
The Ministry of Economy and Commerce has been designated as the founder and sole shareholder. The ministry is tasked with:
- registering the fund with the justice authorities;
- developing and approving its charter and governance structure;
- creating financial mechanisms to attract investments into environmentally sustainable and innovative projects.
According to the Cabinet, the establishment of the fund aims to create a system for supporting green investments, which will help promote projects in the fields of ecology, energy, and sustainable development technologies.
The resolution will take effect in 10 days.
