The EDB takes part in Astana Finance Days

30 June 2022

Nur-Sultan, 29 June 2022. Representatives of the Eurasian Development Bank (EDB) took part in the Astana Finance Days forum, where they once again emphasised the importance of promoting a uniform green agenda in EAEU+ countries and the wide range of synergies from ESG projects.

Assem Kernebayeva, Managing Director and Head of the EDB Directorate for Green and Social Initiatives, spoke at the session entitled National ESG Club as a Platform for Business Transformation. She said that the green agenda is an important part of EAEU countries’ national economic development plans, as its crucial objectives are access to clean water, clean air, processing of domestic and industrial waste, biodiversity conservation and forestry restoration.

“At the 26th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26) in Glasgow, we noted that to implement their national sustainable development action plans by 2030, EAEU countries and Tajikistan must invest in decarbonisation over US $550 billion, or more than US $69 billion per year. Investment in this area should double,” she emphasised.

National and international development institutions, as well as international financial institutions will need to concert their efforts to achieve these objectives. The EDB, for its part, focuses on building a green economy and ecosystem to create new projects with environmental and social benefits. This is one of the key tasks enshrined in the Bank’s Strategy until 2026. The EDB aims to finance sustainable development projects that promote decarbonisation and improve the environmental situation in its member countries, conserve natural resources, and create new jobs and socially important infrastructure.

 

Since 2017, the Bank has financed renewable energy projects with a total installed capacity of about 500 MW to the tune of more than US $440 million. In 2020, the Bank’s Council approved the Renewable Energy Programme for 2020–2024 with up to US $600 million in funding for 500 MW of renewable energy projects. The EDB will continue to finance renewable energy projects and bring the amount of renewable energy funding up to US $1 billion by 2024.

In addition, the Bank is a shareholder in the Astana International Financial Centre’s (AIFC) Green Finance Centre and is actively involved in developing green finance and expertise in Kazakhstan and Central Asia. In the autumn of 2021, the Bank issued its debut green and social bonds for projects in Kazakhstan, which are fully compliant with international sustainable development principles and have been included in the ICMA register. 

It was announced at the panel session that an ESG Club would be established for national and international market participants. “Establishing the ESG Club is an important step to promote sustainable development in the EAEU. The EDB is committed to cooperation with the AIFC Green Finance Centre and strongly supports the establishment of the ESG Club, which should become a universal platform for the exchange of knowledge and experience among all stakeholders in the promotion of the global ESG agenda,” concluded Assem Kernebayeva.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For more than 15 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio mainly consists of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.

The EDB Media Centre:

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

pressa@eabr.org

www.eabr.org

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