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Astana International financial centre organised a conference «AIFC strategy on regional leadership in green finance» and Green Financial System for Kazakhstan

Astana International financial centre organised a conference 

«AIFC strategy on regional leadership in green finance» and Green Financial System for Kazakhstan


September 4, 2017                                                                Astana

The Astana International financial centre (AIFC) held a conference titled "AIFC strategy on regional leadership in green finance" and presented the concept of Green Financial System for Kazakhstan.

Following speakers participated in the conference: the Team Leader of the AIFC and EBRD joint project Green Financial System of Kazakhstan Catullus Helmer, experts of the project Christian Brüning and Lewis Redshaw, team leader of the Strategy development project, and CEO of GreenTech Catalyst, Malaysia Dr. Syed Ahmad Syed Mustafa.

         The welcoming speech was delivered by Kairat Kelimbetov, the Governor of Astana International financial centre, and Jan-Willem van de Ven, EBRD Head of Carbon Market Development.     

         K. Kelimbetov noted that the AIFC defined green finance as one of its main strategic directions, and will create all necessary conditions for the development of green financial products and services in the country.

"The AIFC jointly with the EBRD worked on the concept of the development of Green Financial System for Kazakhstan, which encourages the issuance of green bonds, which is important for implementation of social and environmental projects," the AIFC Governor said.

         According to Jan-Willem van de Ven, EBRD Head of Carbon Market Development, “Kazakhstan, by adopting the Concept, supports the development of clean green finance in the country. The EBRD is a major participant in supporting green projects and technologies in the world and intends to assist in the development of new financial instruments aimed at implementing green economy projects in Kazakhstan”.

         The moderator of the conference, Catullus Helmer, believes that one of the important tools for sustainable development of the country is the green economy. The AIFC should become a National Champion of green finance in Kazakhstan.

The AIFC’s Managing Director Aidar Kazybayev noted that “work on green finance is going broader and will continue after finalization of the Concept of Green Financial System in Kazakhstan. Today the approaches to the development of the AIFC regional leadership strategy in green finance have been presented," he said.

International experts participated in the conference noted the interest of global investors in the green economy of Kazakhstan and developed recommendations for stimulating investment and services in the green sector. They highly appreciated the key role of the AIFC in establishing a platform for responsible investments in Kazakhstan.

It should be emphasized that the AIFC is actively working to create a special platform for covering green finance. It is planned that the specialized website, launched in December 2016, will become a discussion platform in the future, where different aspects of the development of green finance in Kazakhstan will be examined. The site will also play a role of a communication platform for local and foreign stakeholders and investors.


         AIFC. In December 2015 President of the Republic of Kazakhstan Nursultan Nazarbayev signed the Constitutional Statute “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to establish a leading international centre of financial services. For the first time in the post-Soviet region, a common law framework will be introduced in the AIFC. English shall be the official language of the AIFC.

The objectives of the AIFC are to attract investment into the economy of the Republic of Kazakhstan through the establishment of an attractive environment for investment in financial services, to develop local capital markets, ensuring their integration with the international capital markets, and develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan.   

The European Bank for Reconstruction and Development (EBRD) was founded in 1991 to create a new post-Cold War era in central and Eastern Europe, furthering progress towards ‘market-oriented economies and the promotion of private and entrepreneurial initiative’.

The EBRD allocates project financing for banks, sectors of the economy and individual enterprises - both newly created and operating ones.