The AIFC Green Finance held the first online meeting of the Advisory Board of the GIP Regional Office in Central Asia
The AIFC Green Finance Centre (GFC) held the first online meeting of the Advisory Board of the Regional Office for Green Investment Principles (GIP) in Central Asia. The meeting was attended by members of the Advisory Council representing the region, as well as experts from the UK and China.
It should be noted that the GFC became the Regional Office for GIP in Central Asia in June 2021.
The participants of the Council heard information about the GIP, discussed the development of sustainable financing in the countries of the region and the prospects for joint work within the framework of the GIP. The work of the regional office in 2022 will focus on raising awareness, developing a database of GIP green projects, as well as building the capacity of market participants.
Yaseenn Anwar, Chairman of the GIP Regional Office, stressed: “Over the next 30 years, 3.5 trillion US dollars of annual investments will be needed to address the climate agenda. The Belt and Road Initiative and GIP can play a key role in attracting these investments.”
Aigul Kussaliyeva, Managing Director of the GFC, added that by the end of 2020, total investments from China to Central Asian countries have reached 40 billion US dollars and have growth potential. The development of sustainable finance in the region will contribute to the “greening” of these investments.
More information about GIP can be found on the official Internet resource of the initiative https://gipbr.net .
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.
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.
