On Friday, 02 December 2022, REAP team conducted a Cleantech Finance workshop for Financial Institution in Tajikistan. The event was conducted in in Tashkent. Around 30 participants from 14 Financial Institutions (FIs) participated in the workshop.
Workshop began with Mr. Turan Makhamatdinov, Project Manager, CCIU explaining about the project activities and some case studies of resource savings with lo to no-cost investments. Mr. Amarnath Munnolimath, Senior Manger from adelphi, Germany explained the cleantech finance terminologies, and what are the benefits of banks if they come up with cleantech finance products. Also mentioned some high-cost investment SCP technologies where MSMEs need finances. This has put a foundation on the basic tools group work for understanding and designing of cleantech finance products.
In the group work Financial institutions discussed their current financial schemes for MSMEs and explored the potential target market for the cleantech finance among MSME target group. Also discussed some major challenges of why cleantech finance is a challenge in Uzbekistan,
- Lack of know-how among bank staff on the cleantech finance terminologies and technology
- Lack of expertise in country to implement cleantech or SCP technologies
- Lack of financial litracy among micro and small companies to apply for finances.
- Also, the energy rates in country are cheaper than going for renewables or installment of energy efficient technologies.
- Limited of cleantech finance credit lines provided by the International Financial Institutions
- Interest rates set by central banks are gradually increasing
Groups presented the outcomes and got some feedbacks from other peers. It was very interesting to see the discussion among different FIs on the shared challenges.
Overall workshop was very successful and appreciated by all the participants and many FIs shown interest in the one-to-one workshop with their staff. These workshops are planned to be conducted in July 2023.