Green mortgage – contribution to decarbonization of Kazakhstan
Green mortgage – contribution to decarbonization of Kazakhstan
AIFC Green Finance Centre
17 January 2023 00:00:00

From January 2023, Otbasy Bank JSC, which is one of the co-founders of the National ESG Club, begins accepting applications for a «green mortgage». This is the first mortgage program in Kazakhstan that complies with the principles of sustainable development, aimed at decarbonizing the economy. The concept of this program was presented back in October last year in the framework of the ESG Investment Forum (October 3, 2022), organized by the National ESG Club.

The green mortgage will be valid for the purchase of housing that corresponds to the environmental assessment system of buildings – «green construction», which involves the use of safe and environmentally friendly materials by the developer, the use of water-saving and energy-efficient technologies and solutions, as well as landscaping by the developer of the nearby territory and the organization of garbage disposal.

In general, the «Green Mortgage», due to the reduced loan rate, is aimed at creating incentives for the construction and purchase of energy-efficient housing and thereby contribute to reducing the carbon footprint and decarbonization of the economy of Kazakhstan.





The National ESG Club was created as part of Astana Finance Days 2022 on July 28, 2022 and united 19 companies that are leaders in ESG transformation in their industries. Today the Club includes 30 companies.

The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the

The AIFC Green Finance Centre is a subsidiary organisation of the AIFC Authority and the Eurasian Development Bank, aimed at introduction and development of sustainable finance instruments and attracting of investments in environmental and social projects in Kazakhstan and Central Asia.

The AIFC Green Finance Centre supported the very first issuance of green bonds and first verified green loan in Kazakhstan. Also, the Centre introduced definitions of green finance and green taxonomy (a classifier of economic activities and projects that meet technical selection criteria) in the national environmental legislation. The new legislation provides incentives for entrepreneurs who use green finance instruments

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