The Central Bank of Azerbaijan and the World Bank held a meeting about green bonds and sustainable finance.

During the event, World Bank experts made presentations on global trends, key drivers, and best country practices on green bonds, including modern approaches in the sustainable finance sector. They also spoke about the role and responsibility of the financial sector in this area and the tools used.

Participants talked about how initiatives on sustainable finance and green bonds could be used in Azerbaijan.

Representatives of the Finance Ministry, Economy Ministry, Ecology and Natural Resources Ministry, the State Agency for Renewable Energy Sources, and other state bodies, including the Baku Stock Exchange, the National Depository Centre, as well as investment companies and banks, took part in the event.

The event was organised as an interactive seminar, and the participants’ questions on sustainable finance and green bonds were answered by experts.

The Central Bank is always taking steps to reach the goals set out in the strategy for developing the capital market.

Azerbaijan joined the WB in 1992. Since then, the bank has financed over 50 projects with total commitments of $4.4 billion. It started economic cooperation in Azerbaijan to help increase the country’s institutional capacity and build efficient oil reserve management. The WB has always supported the large-scale reforms carried out in Azerbaijan.

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Source: Azernews