AIFC Green Finance Center and ERI

11.12.2020

Representatives of AIFC Green Finance Center (hereinafter - the Center) and Economic Research Institute (hereinafter - the Institute) signed a Memorandum of Understanding and Cooperation in the field of green finance.
 
The terms of the Memorandum provide for further cooperation in the implementation of joint activities and projects on policy development and research in the field of green and sustainable finance. The Memorandum also includes an agreement for educational programs aimed at raising awareness and industry-wide understanding of green finance and sustainable development.

The Institute, whose mission is to promote aspects of sustainable economic growth in the policy development, will become a partner in the development of the Center's activities, in particular, in creating and strengthening a new area - social and sustainable finance. The Institute will also assist the Center in developing a methodology for rating green cities, bringing its experience in applied research in economics.

The signed Memorandum will allow the Parties to cooperate in developing green and social finance market, developing policy documents and recommendations on regulation in the field of sustainable finance in Kazakhstan and the region.
 
For reference:

Astana International Financial Center was established on the initiative of the First President of the Republic of Kazakhstan - Yelbassy Nursultan Nazarbayev within the framework of the National Plan - 100 steps to implement five institutional reforms. On July 2, 2020, AIFC Management Council adopted the Center's Development Strategy until 2025. According to it, AIFC's vision is to become a leading international financial center in a region including Central Asia, the Caucasus, EEU countries, Western China, Mongolia and Eastern Europe.

The mission of AIFC is to promote sustainable long-term development of the region. As the Head of State K. Tokayev noted, “AIFC with its unique capabilities can act as a universal platform connecting the countries of the region.” The strategic areas of AIFC's sustainable development include the development of a closed-loop economy, financial technologies, and a “Digital Financial Center”. aifc.kz

Economic Research Institute is a state research institute that studies the integrated development challenges of the economy of Kazakhstan. The Institute's activities are aimed at providing scientific support for the implementation of the country's economic strategy, analyzing the state of the economy and forecasting its development for the future, promoting sustainable economic growth, improving the level and quality of life of the population.



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