Kazakhstan and Green Climate Fund Establish Climate Investment Platform
Kazakhstan and the Green Climate Fund (GCF) have agreed to establish the Qazaqstan Climate Investment Platform (QCIP), a national mechanism intended to prepare climate projects for financing from international and domestic financial institutions.
The agreement was signed under the GCF Readiness 3 program during the fund’s Regional Dialogue with countries of Eastern Europe and Central Asia. The project is valued at more than $1 million. The agreement was signed by Chairman of the International Green Technologies and Investment Projects Center Saken Kalkamanov and GCF Regional Director for Eastern Europe, Central Asia and the Middle East Thomas Eriksson.
QCIP will provide a framework for coordinating climate investment and preparing projects for potential financing from the GCF, the Development Bank of Kazakhstan and other financial institutions. The platform is intended to transform individual technological initiatives and project proposals into structured projects capable of attracting climate finance.
The mechanism will also support the integration of climate priorities into Kazakhstan’s public administration system. A steering committee chaired by the Ministry of Ecology and Natural Resources will oversee the platform’s environmental and climate integrity and coordinate interaction with government bodies responsible for tariffs, finance, planning and economic regulation.
The QCIP secretariat will operate from the International Green Technologies and Investment Projects Center. It will provide operational support and facilitate cooperation between government agencies, project developers, financial institutions and international partners.
The platform is expected to link Kazakhstan’s national climate priorities and technological solutions with potential sources of financing, while developing a pipeline of projects prepared for investment. QCIP will also serve as a mechanism for implementing Kazakhstan’s updated Nationally Determined Contribution and its implementation plan.
Photo credit: Ministry of Ecology and Natural Resources
