BAKU, Azerbaijan, March 18
By Tamilla Mammadova – Trend:
Georgian banking sector is robust, well capitalized, and supported by stringent banking regulation and supervision, International Finance Corporation'S (IFC’s) Regional Head of Industry for Financial Institutions in Europe and Central Asia Vittorio Di Bello told Trend.
According to him, IFC has a long history of over 20 years working with banks in Georgia through investment and advisory services.
"Also, we actively work with the National Bank of Georgia on promotion of sustainable finance in the country. For instance, in February 2020, the National Bank adopted the environmental, social and governance (ESG) reporting and disclosure principles, to which we contributed," he noted.
As he noted, at present IFC in partnership with the Swiss State Secretariat for Economic Affairs SECO and the Austrian Federal Ministry of Finance (BMF), works with the National Bank on development of the green finance taxonomy in order to help investors identify opportunities that comply with sustainability criteria for impact investments.
"These measures aim to support development of new financial products and new sources of finance that would facilitate development of sustainable products, such as green buildings and production of ecologically clean construction materials, financing renewable energy projects and alternative energy sources, such as wind and solar," he added.
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