Green Finance and Investment Accessing and Using Green Finance in the Kyrgyz Republic Evidence from a Household Survey

This report presents findings from a survey on green finance conducted among 1 000 households in the Kyrgyz Republic (Kyrgyzstan) in 2019. Although green finance is an emerging trend, knowledge about the appetite for green financial products and services in Kyrgyzstan is almost inexistent. The OECD prepared the household survey to close this gap in evidence. The research identified needs and demand from existing and potential clients of Kyrgyz financial institutions for financial instruments, including those that promote sustainable development. This will help commercial banks, policy makers and central bankers design more targeted interventions to increase access to and use of financial products and services, including green finance, in Kyrgyzstan Foreword List of acronyms and abbreviations Executive summary 1 Background and relevance of the study Strategies to support green and inclusive development The Kyrgyz context References Notes 2 Banking in the Kyrgyz Republic Financial development and the Kyrgyz banking sector Obstacles to greater access to and use of financial products and services Increasing access to and use of financial products and services Overcoming challenges in the banking sector Increasing financial literacy Providing targeted and affordable financial products Building trust Improving physical infrastructure References Note 3 Rationale and methodology for the survey Rationale and methodology for the survey References 4 Key findings from the household survey Experience with and attitude towards green financial products Use of financial services Use of mobile banking Experience with loans References Note 5 Implications and policy recommendations Overview An effective regulatory framework Offering more diverse and better targeted financial products Increasing awareness and understanding of green financial products and services References Annex A. Survey method and implementation Annex B. Demographic characteristics of the sample Annex C. Survey questionnaire in English Annex D. Survey questionnaire in Kyrgyz