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Azerbaijan's banking sector to work with IFIs to attract additional funds for 'green' goals - Banks Association (Exclusive)

Economy Materials 14 November 2024 12:48 (UTC +04:00)
Azerbaijan's banking sector to work with IFIs to attract additional funds for 'green' goals - Banks Association (Exclusive)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, November 14. The banking sector of Azerbaijan will work with international financial institutions (IFIs) to attract additional funds for 'green' goals, the President of the Azerbaijan Banks Association (ABA) Zakir Nuriyev told Trend.

"The Central Bank of Azerbaijan approved the 'green' taxonomy yesterday, and at the same time, in our statement, we also note that, together with other participants, we will carry out all necessary work, including research, promotion, and the introduction of these standards into our economy, as well as explaining them to meet the requirements. We discussed this at an extended meeting of the Banks Association.

Starting today, we'll work with banks, as well as international financial institutions, to attract additional funds for these goals, and we will announce this, emphasizing our readiness to meet all the requirements. We'll continue our work in this direction as there are many aspects involved, such as awareness-raising, promotion, and training people.

As you know, this is a new phenomenon for our economy. In the framework of other negotiation processes, other participants are discussing various aspects, such as the issuance of 'green' bonds, etc. Overall, this marks the beginning of a new phase. This is a collective decision, made by all the banks together and signed unanimously," he added.

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