Azerbaijan supports the development of green financing instruments in the region
Aidar Kazybayev, CEO of the AIFC Green Finance Centre (GFC), and Agalar Atamoglanov, Extraordinary and Plenipotentiary Ambassador of Azerbaijan to Kazakhstan, discussed prospects for bilateral and regional cooperation. Among other things, the issues of the development of the green capital market in the region were discussed in the context of the implementation of the initiative of the President of Kazakhstan K.K.Tokayev, announced during the VIII summit of the Cooperation Council of Turkic-speaking States, held in November last year in Turkey.
Mr. Ambassador expressed support for this initiative and interest in organizing the visit of the Centre’s delegation to Azerbaijan, as well as readiness to assist in finding strategic partners and organizing meetings with interested companies and banks of Azerbaijan, authorized state bodies.
The parties also discussed the possibilities of expanding cooperation on financing projects within the framework of the Belt and Road Initiative, considering that the GFC is the regional office of the Green Investment Principles Initiative in Central Asia.
Reference:
The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus.
www.aifc.kz
The AIFC Green Finance Centre is a subsidiary organisation of the AIFC Authority and the Eurasian Development Bank, aimed at introduction and development of sustainable finance instruments and attracting of investments in environmental and social projects in Kazakhstan and Central Asia.
The AIFC Green Finance Centre supported the very first issuance of green bonds and first verified green loan in Kazakhstan. Also, the Centre introduced definitions of green finance and green taxonomy (a classifier of economic activities and projects that meet technical selection criteria) in the national environmental legislation. The new legislation provides incentives for entrepreneurs who use green finance instruments.
