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16 May 2023, 17:41

Eurasian Development Bank closely monitors green agenda in Belarus

Almaty, 16 May (BelTA) - Conrad Albrecht, Managing Director, Head of the Directorate of Sustainability at the Eurasian Development Bank (EDB), gave his assessment of the green agenda in Belarus in a conversation with BelTA.

"We are closely monitoring the development of the green agenda in Belarus and welcome the latest achievements area, including the debut issue of sovereign green bonds that saw a by high demand. According to our estimates, following this issue Belarus ranks third in terms of ESG bonds among the EDB member states," Konrad Albrecht said. “We look forward to the approval of the national green taxonomy, which we believe will contribute to the development of the market. We expect that public authorities will continue to be a key driver, setting an example for the private sector and demonstrating political will for green transformation."

The EDB recommends considering additional measures to stimulate supply and demand in the ESG debt market, such as tax incentives or interest rate subsidies."We also support initiatives and applied incentives that will create conditions for the introduction of green and low-carbon solutions, to increase the role of sustainable development as an integral part of the business model in various industries, and to improve disclosure and transparency of data on the carbon intensity of projects, products and services. In our opinion, the availability of reliable and comparable financial and climate information will increase investor confidence and direct green financial flows to where they are needed most," Konrad Albrecht added.

These days, the Eurasian Development Bank (EDB) is holding a conference of major investors in infrastructure and ESG projects and a meeting of members of the Association of Development Institutions of Asia and the Pacific (ADFIAP). The events in Almaty will wrap up on 17 May. Panel discussion focused on financing of transport, communications, energy and digital infrastructure, which play a crucial role in sustainable social and economic development at the national and regional levels. The events have brought together more than 150 executives, board members, high-ranking officials and representatives of development institutions and investment funds. Their role in creating sustainable infrastructure will be the main topic of the meeting. First of all, these are financial institutions from China, Turkey, Japan, India, Africa, the Philippines, the countries of the European Union, the United States, Latin America and the Middle East, and the international organizations, including such UN structures as UNIDO, UNDP, etc.

The Eurasian Development Bank (EDB) is an international financial institution that carries out investment activities in Eurasia. For more than 17 years, the EDB has been promoting economic ties and ostered comprehensive development of its member countries. The EDB has an authorized capital of $7 billion. The EDB's portfolio is mainly represented by integration projects in the areas of transport infrastructure, digital systems, green energy, agriculture, industry and mechanical engineering. The bank is guided in its activities by the UN Sustainable Development Goals and ESG principles.

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