Representatives of the AIFC Green Finance Centre and Institute of Economic Research signed memorandum of understanding

Representatives of the AIFC Green Finance Centre (hereinafter – the Centre) and the Institute for Economic Research (hereinafter – the Institute) concluded a memorandum of understanding and partnership in the field of green finance.

The terms of the Memorandum provide further cooperation in the implementation of joint activities and projects for policy development and research in the field of green and sustainable financing. The Memorandum also includes an agreement to conduct educational programs to increase awareness and industry-wide understanding of green finance and sustainable development.

The Institute, with missions to promote sustainable economic growth within the policy development, will become a partner in the development of the Centre’s activities, particularly in the creation and strengthening of a new direction – social and sustainable finance. The Institute will also assist the Centre in development of a green city rating methodology, bringing its expertise in applied economic research.

The signed Memorandum will allow the Parties to carry out joint activities on the development of the green and social finance market, the development of policy documents and recommendations on regulation in the field of sustainable finance in Kazakhstan and the region.

Reference:

The Astana International Financial Centra was created by the initiative of the First President of the Republic of Kazakhstan, Leader of the Nation, Nur-Sultan Nazarbayev as part of the “100 steps to implement five institutional reforms” national program. The Centre’s development strategy until 2025 was approved by the Management council of the AIFC during the council’s meeting on July 2, 2020. In accordance with the strategy, the vision of AIFC is in becoming the leading financial centre in the region that includes Central Asia, the Caucasus, EAEU countries, western China, Mongolia, and Eastern Europe.

The mission of the AIFC is in assisting the sustainable and long term development of the region. As the head of state Tokayev noted, “AIFC, with its unique opportunities, can act as a universal platform that connects the countries in the region.”

The strategic directions for the sustainable development of the AIFC include the development of a circular economy, financial technologies, and “digital financial centre.” https://aifc.kz/