Green Banking Initiative

What is the Project About?

UNDP supports Bank Keshavarzi of Iran, the national development bank for natural resources and agriculture development, in its objective to improve its “green” banking and credit procedures and practices (i.e. those that can help ensure both inclusive growth and sustainable development outcomes in the sector and at the local level – and integrate “development” and “banking”).  The project is a research and development approach to institutional capacity strengthening.

Who Finances It?

UNDP TRAC

US $125,000

Bank Keshavarzi
IRR 19,915,000,000

Delivery in Previous Fiscal Year



US $260,000

Project Highlights:

  • Review of Bank’s credit allocation standard operating procedures (SOP) from an inclusive growth and sustainable development perspective - and recommendations for their improvement.
  • Development of credit allocation based on an inclusive growth and sustainable development concepts and criteria.
  • Testing new SOP’s in three pilot sites (Markazi, North Khorassan, and Zandjan Provinces).
  • Production of necessary documentation required to institutionalize new SOP’s;
  • Establishing a Centre of Excellence on this approach and disseminate the best practices nationally.