CEO of the AIFC Green Finance Center conducted a business trip to Bishkek

On May 14, 2021, the CEO of the AIFC Green Finance Centre Ltd., Aidar Kazybayev, together with the Deputy Chairman of the Board of the Eurasian Development Bank, Amangeldy Isenov, visited Bishkek, Kyrgyz Republic.

Within the framework of the trip, meetings were held with the heads of key state bodies of Kyrgyzstan and commercial companies.

During the meeting with the Minister for the Promotion and Protection of Investments of the Kyrgyz Republic Almambet Shykmamatov, the Kyrgyz side expressed interest in using the capabilities of the International Arbitration Centre and the AIFC Court in the implementation of investment projects on the territory of the Kyrgyz Republic, in training arbitrators in investment disputes for Kyrgyzstan, as well as opening the AIFC office in the Ministry building.

As a result of the meeting, an agreement was reached to develop a draft cooperation agreement between the AIFC and the Ministry within a month.

A meeting was held with the Deputy Minister of Economy and Finance of the Kyrgyz Republic Mirlanbek Baigonchokov, during which the possibilities of strengthening cooperation in the field of financial education for representatives of the Kyrgyz financial sector were discussed.

During the meeting with the Vice-Minister of Energy and Natural Resources of Kyrgyzstan Nurdin Kozhogulov, the possibilities of the AIFC’s support in the development of the energy security strategy of Kyrgyzstan to determine the necessary steps to reform the country’s energy sector were discussed. The Kyrgyz side was recommended to explore the possibility of building electric power storage centres to reduce seasonal energy dependence.

The free Economic Zone “Bishkek” expressed its readiness to act as a key business partner in the Kyrgyz Republic, as stated during the meeting by the Head of the FEZ Administration Davletbek Tugolbayev.

In turn, Beibut Kapyshev, Chairman of the Management Board of Optima Bank JSC, expressed his readiness to become a key financial partner of the AIFC for the introduction of new promising financial technologies, the creation of a financial academy on its basis, as well as to promote the development of financial services in Kyrgyzstan.

In this regard, an agreement was reached on the joint development of a detailed roadmap, which also provides for the introduction of green and Islamic finance in Kyrgyzstan.

There was also a meeting with the Chairman of the Board of “Ayil Bank” Ulan Bukabayev, who expressed a request for support from the AIFC Green Finance Centre for the transition to the category of “green bank” of the full cycle, and also asked for assistance in funding at the expense of international environmental and climate funds.

The final meeting was with the Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan to the Kyrgyz Republic Rapil Zhoshybayev, who assured of full assistance in promoting the services of the AIFC in Kyrgyzstan.

Reference:

The Astana International Financial Centre 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 AIFC Green Finance Centre is an AIFC Organisation created to enable the development of green finance in Kazakhstan and Central Asia. The main goal is to bring investments to sustainable economy through trending financial instruments, such as green and social bonds. In addition to that, the AIFC Green Finance Centre, being a regional think-tank, provides strategic and business consulting in green finance and sustainable development to Governments, quasi-state organisations and entrepreneurs. The Centre provides initial assistance to potential issuers, investors and market players on preparations for the issuance of green bonds on the AIFC Exchange (Astana International Exchange).