ASTANA (TCA) — The Astana International Financial Centre (AIFC) presented the Concept of the Development of the Green Financial System of Kazakhstan at the conference “Strategy of ensuring regional leadership of AIFC in the sphere of green finance” which was held on September 4 in Astana, the official website of the Prime Minister of Kazakhstan reported.
AIFC Governor Kairat Kelimbetov said in his introductory speech that AIFC, which has defined green finance as one of the main strategic directions, will create all the necessary conditions for the development of green products and financial services in the country.
“AIFC together with the EBRD worked on the Concept of the Green Financial System of Kazakhstan, which provides the issuance of green bonds through which important social and environmental projects can be implemented,” Kelimbetov said.
According to the Head of Carbon Market Development at the EBRD Jan-Willem van de Veen, Kazakhstan supports the development of clean green finance in the country by adopting the Concept.
“The EBRD is a major participant in the support of green projects and technologies in the world and intends to assist in developing new financial instruments aimed at implementing green economy projects in Kazakhstan,” the EBRD representative said.
The head of the working group for the development of the Concept Catullus Helmer believes that green economy is one of the important tools for sustainable development of the country. The AIFC should become the driver of this direction in Kazakhstan.
AIFC Managing Director Aidar Kazybayev said that work on green finance is continuing.
“Today we are completing the development of the Green Finance Development Concept. This is the first document in the history of Kazakhstan where the AIFC positions itself as a regional financial hub which will place and develop securities aimed at developing the green economy, support in the field of sustainable economy. Today AIFC together with international experts presented its vision on how the green bond market, green loans will develop, what tools are needed in addition to supporting investors who are going to invest in green technologies, green projects,” Kazybayev said.
He explained the concept of “green finance” in more detail.
“These are financial instruments aimed at supporting environmental projects and developing a green economy. For example, these are green bonds, green loans, green insurance, green purchases,” the Managing Director said.
