GCF-EBRD Kazakhstan Renewables Framework Kazakhstan

The interim evaluation concludes that the GCF-EBRD Kazakhstan Renewables Framework is largely successful and on track to meet or exceed its targets for finance and greenhouse gas reductions. The programme has already contributed to reducing emissions by over 482 ktCO2 through 2020 and is projected to reach over 19 million tCO2 over the lifetime of its investments. While financing and auction process support are on schedule, delays have occurred in carbon market support and job-skills development. The report highlights the effectiveness of the EBRD's local presence and recommends reallocating uncommitted technical assistance funds toward grid development, green bonds, and carbon market regulatory frameworks.

• The programme is expected to meet or exceed all targets regarding finance, greenhouse gas (GHG) reductions, job creation, and capacity building.
• Investment projects implemented by the programme reduced emissions by more than 482 ktCO2 through 2020, with a projected lifetime reduction of over 19 million tCO2 based on a pipeline of approximately 608 MW of wind and solar PV capacity.
• The programme is considered highly cost-effective, with an estimated cost per tCO2eq under USD 42 and a GCF total investment ratio per tCO2eq reduced under USD 10.00.
• While the programme acts as a catalyst for shifting to an auctioning system, its paradigm shift objectives regarding the carbon market are hindered by delays in deciding on a benefit-sharing mechanism for carbon credits.
• Implementation of technical assistance (TA) for job-skills development and carbon market support has faced delays, and the RE auctions assignment is now expected to finish in Q3-Q4 2023 rather than Q3 2022 due to site securing complexities and wind measurement campaign challenges.
• Foreign Exchange (FOREX) risk has emerged as a significant issue that may require additional support, although regulatory risks are currently managed well.
• Gender equity efforts were primarily focused at the national and sectoral levels; however, the programme is now introducing benchmarks and reporting for clients at the sub-project level.

APA

Green Climate Fund (2021). GCF-EBRD Kazakhstan Renewables Framework Kazakhstan. https://www.greenclimate.fund/sites/default/files/document/fp047-interim-evaluation-report-pub.pdf

Chicago

Green Climate Fund. GCF-EBRD Kazakhstan Renewables Framework Kazakhstan. 2021. https://www.greenclimate.fund/sites/default/files/document/fp047-interim-evaluation-report-pub.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=GCF-EBRD Kazakhstan Renewables Framework Kazakhstan |date=October 2021 |url=https://www.greenclimate.fund/sites/default/files/document/fp047-interim-evaluation-report-pub.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefund2021gcfebrd, author = {{Green Climate Fund}}, title = {{GCF-EBRD Kazakhstan Renewables Framework Kazakhstan}}, institution = {Green Climate Fund}, year = {2021}, month = oct, url = {https://www.greenclimate.fund/sites/default/files/document/fp047-interim-evaluation-report-pub.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }