BISHKEK, Kyrgyzstan, April 4. The National Bank of Kyrgyzstan and the European Bank for Reconstruction and Development (EBRD) have signed a memorandum of cooperation in the field of climate risk management in the financial sector, Trend reports.
According to the National Bank of Kyrgyzstan, the document was signed by the Deputy Chairman of the National Bank of Kyrgyzstan, Manas Zhakypov, and the Regional Director of the EBRD in Kyrgyzstan, Tajikistan, and Turkmenistan, Ayten Rustamova.
This document aims to develop and implement supervisory recommendations and regulations for more effective identification, assessment, and management of climate risks in the financial sector. It also seeks to promote advanced practices in corporate climate governance and transitional planning.
During the meeting, the parties discussed further directions of cooperation in the development of the green economy and the implementation of environmental, social, and governance (ESG) principles into Kyrgyzstan's financial system.
To date, the EBRD has invested 960 million euros in Kyrgyzstan through 238 projects, primarily focusing on supporting private entrepreneurship and economic development initiatives.