Astana International Financial Centre and European Bank for Reconstruction and Development signed a Memorandum of Understanding

AIFC Green Finance Centre

11 July 2019 00:00:00

Astana International Financial Centre (AIFC) and European Bank for Reconstruction and Development signed a Memorandum of Understanding within the framework of the Astana Finance Days.

The terms of the Memorandum consider further cooperation in the development of a supportive regulatory framework for Green finance system in Kazakhstan, as well as acceleration programme on green bonds issuance on AIX.

EBRD President Sir Suma Chakrabarti noted: “The development of the Astana International Financial Centre is helping create a competitive, efficient and transparent financial market in Kazakhstan, Central Asia and the wider region. The Memorandum of Understanding we are signing today between the AIFC and the EBRD will streamline our joint work in the area of green finance and will be instrumental for the creation of the green bond market.”

“EBRD has always been a supportive partner in AIFC development, in particularly creating a new pillar – green finance. Within the first Technical assistance from EBRD, the concept of creating a green finance system of Kazakhstan was developed,” - highlighted Kairat Kelimbetov.

The signed Memorandum will allow the Parties to conduct joint activities in developing green bond market in Kazakhstan, develop policy papers and recommendations for green finance regulation. The EBRD supports the creation of the AIFC Green Finance Centre, which should become a driver of the regional market of green finance and green financial instruments.

Reference:

AIFC. Astana International Financial Centre (AIFC) was established on the initiative of the First President of the Republic of Kazakhstan Nursultan Nazarbayev. The constitutional law on the establishment of the AIFC was signed on December 7, 2015. The purpose of the AIFC is the formation of a leading financial services centre on international level. The objectives of the AIFC are to assist in attracting investment in the country's economy, creating an attractive environment for investment in financial services, the development of the securities market of the Republic of Kazakhstan and ensuring its integration within international capital markets. www.aifc.kz

EBRD. An international financial institution established under public international law pursuant to the Agreement Establishing the Bank dated 29 May 1990, the purpose of which is to foster transition towards open market-oriented economies and promote private and entrepreneurial initiatives in its countries of operations. https://www.ebrd.com