NON-GOVERNMENTAL GREEN FINANCE AND BUSINESS COORDINATING INITIATIVES: THE EXPERIENCE OF KYRGYZSTAN

The purpose of the study is to develop recommendations for the development of regulation of green finance in the Kyrgyz Republic. The objectives of the study are to identify non–governmental institutions that provide green financing and coordinate national business initiatives; to determine the contribution of non-governmental institutions to financing green economic development.

Methodology It consists in the application of methods of general economic analysis, taking into account the specifics of the activities of national regulation. The actual data provided by official bodies and commercial structures on financing sustainable development projects has been studied.

Results The information on promising directions for solving the problem of bringing financial flows in line with the trajectory of sustainable development, characterized by low greenhouse gas emissions and resistance to climate change, is systematized; the contribution of non-governmental institutions to the formation of green finance infrastructure is clarified; proposals have been formulated to increase the potential of regulation to increase business motivation for green financing.

Conclusions Further implementation of the national financial policy in the field of green finance actualizes the priority of such areas as: increasing the potential of external financing; emphasis on climate finance and technological modernization; increasing the role of the national financial market. The formation of a well-thought-out and balanced national policy in the field of green, climate and, in general, sustainable financing requires the development of updated action plans.