ASTANA – Kazakhstan and the Green Climate Fund (GCF) have signed an agreement to establish the Qazaqstan Climate Investment Platform (QCIP), a national mechanism designed to prepare climate projects for financing from international and domestic financial institutions.
Kazakhstan and the Green Climate Fund sign an agreement to establish the Qazaqstan Climate Investment Platform (QCIP). Photo credit: Ministry of Ecology and Natural Resources.
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 signing brought together 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.
Platform to build pipeline of investment-ready climate projects
QCIP will serve as a national mechanism to coordinate climate investments and prepare projects for potential financing from the Green Climate Fund and the Development Bank of Kazakhstan, among other financial partners.
Its key objective is to move from individual technological initiatives and project proposals toward structured investment projects that are ready to attract climate financing. The platform will also help integrate climate priorities better 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 cooperation with government bodies responsible for tariffs, finance, planning and economic regulation.
Platform to support Kazakhstan’s climate priorities
The QCIP secretariat will be based at the International Green Technologies and Investment Projects Center. It will provide operational support and coordinate cooperation among government agencies, project developers, financial institutions and international partners.
The platform is expected to connect Kazakhstan’s national climate priorities and technological solutions with potential sources of financing, helping build a pipeline of investment-ready climate projects. QCIP will also serve as a practical mechanism for implementing Kazakhstan’s updated Nationally Determined Contribution and its implementation plan.
The agreement and creation of QCIP are expected to support a more systematic approach to preparing and attracting climate finance in Kazakhstan, while strengthening cooperation with international financial institutions and developing a sustainable portfolio of projects aligned with the country’s climate objectives.
