SEC Aktobe Receives Second-Party Opinion from AIFC Green Finance Centre for Debut Social Bond Issuance
The Socio-Entrepreneurial Corporation Aktobe (SEC Aktobe) has received a Second-Party Opinion (SPO) from the AIFC Green Finance Centre (GFC) in advance of its debut social bond issuance.
Proceeds from the upcoming bond will be used to finance projects focused on job creation and improving food security in the region.
Accredited by both the Climate Bonds Initiative (CBI) and the International Capital Market Association (ICMA), the AIFC GFC issued a Second-Party Opinion confirming the social characteristics of the bond, awarding it an “Excellent” rating for its compliance with international social finance standards.
Moreover, the Centre verified that SEC Aktobe’s sustainable finance policies and the upcoming bond issuance align with the Social Bond Principles of the International Capital Market Association (ICMA).
This issuance will mark the first social bond – and the first ESG-themed bond – to be issued by a socio-entrepreneurial corporation in Kazakhstan. It highlights SEC Aktobe’s commitment to sustainable development, the integration of ESG practices into its operations, and the use of market-based instruments to finance impactful projects. The issuance further underscores the corporation’s dedication to responsible finance.
Manas Gizhduaniyev, CEO of the AIFC Green Finance Centre, commented: “This forthcoming issuance is significant not only for SEC Aktobe but also for the entire social finance ecosystem in Kazakhstan. Given the increasing need for alternative sources of funding for government and quasi-governmental organisations, this step serves as a strong signal to other socio-entrepreneurial corporations across the country. We are proud to be the first to provide a Second-Party Opinion for ESG-themed bonds issued by such a corporation in Kazakhstan, and we look forward to supporting similar issuances from other SECs.”
Background:
SEC Aktobe is a regional development institution based in the Aktobe Region, established to drive the region’s economic and social development. The corporation plays an active role in implementing national policies of the Republic of Kazakhstan, focusing on sustainable and social entrepreneurship. Its mission includes supporting and scaling socially-oriented projects, attracting investments, fostering the growth of small and medium enterprises, and driving initiatives aimed at improving social infrastructure and the well-being of the local population.
The AIFC Green Finance Centre, headquartered in Astana, Kazakhstan, is a leading sustainable finance institution in Central Asia. Accredited by both the Climate Bonds Initiative (CBI) and the International Capital Market Association (ICMA), the Centre offers verification and advisory services to promote the development of sustainable finance in the region.
