Green and Social Debt Instruments Framework. The document has been designed to ensure the implementation of sustainable development projects" /> Green and Social Debt Instruments Framework. The document has been designed to ensure the implementation of sustainable development projects" />

The EDB approves its new Green and Social Debt Instruments Framework

28 September 2021

Moscow, 28 September 2021. The Eurasian Development Bank (EDB) has approved its new Green and Social Debt Instruments Framework. The document has been designed to ensure the implementation of sustainable development projects.

The policy sets out the objectives and remit for green and social bond issues, as well as the objectives and scope for raising finance through other forms of borrowing in capital markets, including bilateral and syndicated loans, repos, and derivative instruments.

The Bank pays particular attention to green projects and in particular renewable energy projects, which must meet ESG criteria and requirements. In developing its green and social project portfolio, the EDB is guided by the intended impact of sustainable environmental and social development. The Bank defines such projects in accordance with the International Capital Market Association’s (ICMA) principles, as well as other international and national standards and taxonomies.

In 2021, the EDB set up an internal ESG platform in pursuance of international best practices in sustainability. The platform encompasses new policies and procedures that meet all the requirements for responsible finance and sustainable development.

“This made it possible for the EDB to successfully list on 21 September 2021 its three-year green bonds for a total of KZT 20 billion, with a coupon of 10.5%, on Kazakhstan Stock Exchange (KASE). Investor demand has exceeded the offering. Moody’s Investors Service has assigned a Baa1 rating to the issue, noting that the EDB continued to increase the share of sustainability projects. The Bank intends to develop ESG funding and has already planned a number of new debt issues, including green, social and adaptation ones with listings in domestic and international capital markets and expects significant investor demand,” said Daniyar Imangaliyev, Vice Chairman of the EDB Management Board.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries. For 15 years, the Bank has worked to strengthen and broaden economic ties and foster comprehensive development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The EDB’s portfolio mainly consists of projects with an integration effect in the areas of transport infrastructure, digitalisation, green energy, agriculture, industry, and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.

The EDB Media Centre:

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)

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2021