AIFC Green Finance Centre and Havel Group signed a Memorandum of Understanding

Within the framework of participation in the First Eurasian Congress, Aidar Kazybayev, the CEO of the AIFC Green Finance Centre and Alexey Bashkatov, the Deputy CEO of the Hevel Group, signed a Memorandum of Understanding on Partnership on green finance (hereinafter – Memorandum).

The terms of the Memorandum provide cooperation on activities and projects in the area of issuing green bonds on the AIX, participation on GFC’s events related to the green finance and, mutual promotion of the Parties at the regional and international level. Moreover, the Havel is considering to take an advantage of the opportunities offered by the International Arbitration Centre and the Court when making deals, and has plans in case of availability of subsidisation mechanisms to issue green bonds.

The signed Memorandum will allow the Parties to promote green finance instruments for projects in the renewable energy sector in Kazakhstan, which in turn will give a boost for alike companies to use green bonds to finance their green activities.

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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/