Kazakhstan's AIFC Highlights 18 Inspirational Eco-Projects in Detailed Document

Hitting the Green Jackpot in Central Asia: AIFC's Comprehensive Casebook Showcases Billion-Dollar Sustainable Financial Instruments

ASTANA's Astana International Financial Centre (AIFC) has dropped a bombshell, unveiling the significant Comprehensive Casebook on Sustainable Financial Instruments, showcasing 18 groundbreaking projects worth an eye-popping $650 million [1]. Check out these jaw-dropping sustainable finance projects transforming Kazakhstan, Kyrgyzstan, Uzbekistan, and Azerbaijan!

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Sustainable finance instruments, such as green, social, and sustainability bonds and loans, have graced the scene, prime actors in climate change solutions, gender equality advancement, and the achievement of the Sustainable Development Goals (SDGs) across our regions. Companies are adopting these eco-friendly tools to lay the groundwork for a greener tomorrow.

Manas Gizhduaniyev, CEO of the AIFC Green Finance Centre, cheers the casebook as a tangible testament of their collaborative efforts to foster sustainable finance in the greater region. "This casebook is our intermediate victory song," Gizhduaniyev exclaims, "It's a showcase of real-life sustainable finance triumphs that epitomize the power of green bonds, social bonds, and sustainability bonds in addressing climate challenges and fueling inclusive development in Kazakhstan and Central Asia" [1].

Since 2020, the AIFC Green Finance Centre has raised the stakes, issuing a whopping 45 external reviews—Second-Party Opinions (SPOs), one Climate Bonds Initiative (CBI) Verification Report, and verifications of annual reports for issuers across the region [1].

Drumroll, please!: Here are some eye-catching projects highlighted in the Comprehensive Casebook on Sustainable Financial Instruments:

Kazakhstan:- Damu Fund's Green Bond: Kazakhstan's first green bond issuer, Damu Fund, introduced the nation to a 200 million tenge (US$ 394,000) green bond, pumping funds into a two megawatt solar power plant in the Turkistan Region [1].

Solva's Corporate Gender Bonds: Brandishing the title of Kazakhstan's first corporate gender bonds issuer, Solva raised a colossal 20 billion tenge (US$39 million) [1]. The cash went straight to financing women entrepreneurs, micro, small, and medium-sized businesses across the republic. With an astonishing 14,000 clients receiving loans, including 97 women-led companies, 11,140 women entrepreneurs, and 3,554 self-employed women, the gender bonds made significant waves in the Kazakh business scene.
KazWind Energy's Subsidized Green Bonds: The first notes-issuer under the national SME support programme, KazWind Energy placed 3 billion tenge (US$5.1 million) in bonds, financing the construction of a 48 megawatt wind power plant in the Arkalyk district of the Kostanai Region [1]. The project reached full commissioning on December 12, 2023.
Development Bank of Kazakhstan's CBI-Certified Green Bonds: The Development Bank of Kazakhstan issued CBI-certified green bonds for the first time in Kazakhstan and Central Asia, raising $15 million [1]. The funds were allotted towards the construction of a 150 megawatt wind power plant in the Khromtau district of the Aktobe Region.

Azerbaijan:- UNIBANK Commercial Bank's Green Bonds: UNIBANK made history as Azerbaijan's first green bond issuer, raising a whopping 20 million Azerbaijani manat (US$11.8 million) on the Baku Stock Exchange [1].

As the green finance movement gains traction globally, don't miss out on these groundbreaking projects! Stay tuned for more sustainable financial triumphs in the years to come.

Sources:

[1] AIFC Press Service, "AIFC Green Finance Centre publishes the Comprehensive Casebook on Sustainable Financial Instruments", [Date of Publication Unavailable], URL: https://aifc.kz/en/news/2023/01/aifc-green-finance-centre-publishes-comprehensive-casebook-on-sustainable-financial-instruments

[2] "Sustainable finance and the energy transition in Central Asia: An overview", European Bank for Reconstruction and Development, [Date of Publication Unavailable], URL: https://www.ebrd.com/news/features/sustainable-finance-energy-transition-central-asia.html

[3] "Climate finance masterclass", United Nations Development Programme, [Date of Publication Unavailable], URL: https://beta.undp.org/content/undp/en/home/library/climate-change/climate-finance-masterclass.html

[4] "Identifying opportunities for enhancing the application of the Green Bond Principles (GBP) in the Oil and Gas Industry", Snam S.p.A., [Date of Publication Unavailable], URL: https://www.snam.it/content/dam/snam/assets/pdf/Snam/2021/04/Identifying-opportunities-for-enhancing-the-application-of-the-Green-Bond-Principles-GBP-in-the-Oil-and-Gas-Industry.pdf

[5] "ADB raises funds for green projects under its Green Bond Program in Kazakhstan", Asian Development Bank, [Date of Publication Unavailable], URL: https://www.adb.org/features/adb-raises-funds-green-projects-under-its-green-bond-program-kazakhstan

The Comprehensive Casebook on Sustainable Financial Instruments, presented by AIFC, features numerous projects that demonstrate the power of green, social, and sustainability bonds in environmental-science, such as the Damu Fund's Green Bond and the Development Bank of Kazakhstan's CBI-Certified Green Bonds.
As businesses invest in these eco-friendly tools, they contribute to climate-change solutions, gender equality advancement, and the achievement of the Sustainable Development Goals (SDGs) in various regions, aligning with the objectives of finance and business sectors.