By Azernews

By Ayya Lmahamad

Azerbaijan’s Central Bank, jointly with the World Bank, held an event on green bonds and sustainable finance, Azernews reports.

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 exchanged views on the possibilities of applying initiatives on sustainable finance and green bonds 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 Center, as well as investment companies and banks, took part in the event.

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

The Central Bank takes constant measures to achieve the goals set in the capital market development strategy.

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 reserves management. The WB has always supported the large-scale reforms carried out in Azerbaijan.