EDB and AIFC Expand Cooperation on Green and Social Projects in Kazakhstan

The Eurasian Development Bank (EDB) and the Green Finance Center of the Astana International Financial Center (AIFC Green Finance Center) signed an agreement on preparation and implementation of green and social projects in Kazakhstan.

The AIFC Green Finance Center will assist the EDB in finding green and social projects, preparing the necessary documentation for the EDB to consider the possibility of financing them, as well as organizing the issuance of opinions by independent companies on the compliance of projects with the principles of green financing (Second opinion).

It should be recalled that in 2020 the EDB and the AIFC Administration became shareholders of the AIFC Green Finance Center, a company created to introduce green financial instruments in Kazakhstan and Central Asia. On August 12, 2020, they jointly organized the first issue of green bonds in Central Asia for Damu JSC in the amount of 200 million tenge.