SAIPRO GROUP LLC issued the first corporate green bonds in the Republic of Uzbekistan

On December, 2023 “SAIPRO GROUP” LLC with the assistance of the Direct Investment Fund of the Republic of Uzbekistan and the AIFC Green Finance Centre (GFC), successfully conducted the debut placement of corporate green bonds equivalent to 4 000 000 (four million) U.S. dollars with a maturity period of 5 (five) years.

SAIPRO GROUP’s green bonds were placed among commercial banks and development funds in Uzbekistan.

The proceeds from these bonds will be utilized for a project aimed at integrating environmental technology into the construction of Green Hills Resort, thereby significantly reducing its environmental footprint and enhancing sustainability.

The project concept envisions the introduction of several additional environmental and sustainable practices and technologies to minimize environmental impacts. This includes utilizing renewable energy sources for power generation, implementing a waste management system, and installing treatment facilities, technologies and equipment for drinking water and wastewater that adhere to all environmental standards.

According to the external assessment in the format of a Second-Party Opinion provided by the GFC, SAIPRO GROUP demonstrates a high standard of management, effective allocation of raised funds, careful project selection, quality management of raised funds, and transparent reporting and disclosure of information regarding implemented projects of social importance.

Daniyar Kelbetov, Chairman of the Board of Directors of the AIFC Green Finance Centre, stated:

“The AIFC Green Finance Centre aims to become a key player in sustainable finance not only locally but also regionally, creating partnerships and supporting projects that promote environmental responsibility and social progress in various countries of Central Asia and Eastern Europe. The placement of the first corporate green bonds in Uzbekistan, facilitated by the Green Finance Centre, underscores our commitment to creating a sustainable future where finance plays a pivotal role in supporting environmentally responsible and innovative initiatives. I am confident that this is just the beginning, and we aim to develop and introduce new products and sustainable financial mechanisms in Uzbekistan.”

Reference:

Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and developed infrastructure for starting and doing business, attracting investments, creating jobs, and developing Kazakhstan’s economy. www.aifc.kz

The AIFC Green Finance Centre was established to promote the development of green and sustainable finance in Kazakhstan and Central Asia. Currently, it is the only verifier in the region recognized by the International Capital Markets Association (ICMA) and Climate Bonds Initiative.