UN in Kyrgyzstan and AIFC sign MoU on Joint Promotion of Green Financial Instruments and Investments in Social and Environmental Projects

The MoU is aimed at promoting sustainable finance instruments, including green finance, and was concluded as part of the UN Country Team’s (UNCT) visit to Nur-Sultan, Kazakhstan on 12-13 May 2022 to meet with potential financial partners and discuss collaboration opportunities to support the achievement of the Sustainable Development Goals (SDGs) by 2030. The UNCT exchanged ideas with representatives of the Astana International Finance Centre (AIFC) and its subsidiaries, including the AIFC Court, Arbitration Centre, Astana International Exchange, Business Connect, Green Finance Centre, Tech Hub, and Islamic Finance and Business Hub, Bureau of Continuing Professional Development (BCPD).

The UNCT and AIFC representatives discussed a broad range of development issues, including human capital development, especially empowerment of women, through harnessing their skills to better access the international markets. The CEO of Green Finance Centre (GFC) Aidar Kazybaev informed that GFC is opening its office in Bishkek, GFC Bishkek, which will offer new green products and services, as well as support potential issuers and investors in preparation for the issuance of green bonds on the Kyrgyz Stock Exchange.

UNRC Ozonnia Ojielo stressed the importance of “increasing the mode of engagement and degree of partnership to bring about economic and social transformation”. UNCT and AIFC subsidiaries agreed that the digitalization is key to green economy-based development leading to tangible changes in lives of vulnerable groups such as women and children. Expanding digital opportunities to agricultural and other sectors and financing innovative initiatives was discussed as one of the priority areas to prototype and pilot new development solutions.    

UN Resident Coordinator Ozonnia Ojielo further stated, “We see significant conjunctures and many overlaps between the new UN Sustainable Development Cooperation Framework across a range of services that AIFC offers. We will go back and reflect on how we can take the connecting points forward and have a more substantial collaboration between the UN and AIFC.”

UNCT expresses gratitude to Ms. Nazira Beshenalieva, Senior Advisor to the Chairman of the AIFC Board, for her help and assistance that resulted in a very successful visit.

More photos are here.