AIFC participated at the FC4S’s Annual General Meeting

Representatives of the AIFC Green Finance Centre (AIFC GFC) participated in the FC4S’s Annual General Meeting, where presented achievements of the AIFC regarding green finance during 2020.

The debut issue of green bonds on the AIFC Exchange, which launched the green capital market in the Republic of Kazakhstan and in Central Asia, was highly noted.

Representatives of FC4S also praised the development of the state Taxonomy of green projects, which will be used to apply economic incentives to issuers of green bonds and borrowers on green loans.

FC4S was established to share experiences, ideas and works in the development of green finance, including green bonds, loans, insurance and regulation, raising awareness and involving stakeholders in the development of green finance.

 AIFC Green Finance Centre leads the work to support cooperation under this initiative. Along with the AIFC, the founders of this platform are 10 financial centres of the world, including London, Paris, Shanghai, etc. Currently, the platform has more than 30 participants and about 10 observers.

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 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/