The AIFC Green Finance Centre (GFC) and Joint-Stock Company "Commercial Bank Unibank" (the Bank) signed an agreement to facilitate the issuance of debut green bonds on the Baku Stock Exchange, with the GFC providing support to the Bank as a verifier. The signing took place on May 1 of this year in Baku.
The planned issuance of debut green bonds by the Bank marks a significant milestone in the development of Azerbaijan's financial infrastructure, with a focus on financing projects that contribute to nature conservation and environmental improvement.
In accordance with the Green Bond Principles established by the International Capital Markets Association, the funds raised will be directed towards financing environmentally sustainable projects, aligning with the strategy of developing a sustainable economy.
Considering that Baku will host the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) this year, the planned issuance of the Bank's green bonds on the Baku Stock Exchange will be a crucial step in preparing the region to achieve ambitious environmental projects.
Earlier, during the visit of GFC representatives to the Republic of Azerbaijan, which took place on November 28, 2023, a Memorandum was signed with one of the leading brokerage companies in the country, Joint-Stock Company "Investment Company Unicapital".
The memorandum on the development of the sustainable finance market strengthened the partnership between GFC and Unicapital, as well as its parent organisation - Joint-Stock Company "Commercial Bank Unibank".
Reference:
The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan's economy.www.aifc.kz
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