Tashkent, Uzbekistan (UzDaily.com) — As part of the first annual ABII gathering in Central Asia, a seminar on "Environmental and Social Safeguards in Intermediary Financing: Opportunities, Challenges, and Best Practices" was held, focusing on key aspects of integrating sustainable development with intermediary financing to address the global infrastructure financing gap.

Experts examined the effective implementation of environmental and social (E&S) safeguards and explored collaborative strategies to mobilize private capital in alignment with the Sustainable Development Goals (SDGs).

Speakers included Makhia Juned, Deputy Managing Director and Chief Operating Officer of City Bank PLC; Gergely Pokos, Executive Director of the Green Programs Directorate at OTP Bank Plc; Rong Zhang, Global Coordinator of Sustainable Banking and Finance Networks at the International Finance Corporation (IFC), World Bank Group; Alex Hadjiiavonov, Senior Environment and Social Specialist at ABII; and Ines Fazic, Senior Environment and Social Development Specialist at the Multilateral Development Cooperation Financing Center.

The discussion centered around several key themes. First, cooperation models for sustainable development, which include partnerships between multilateral development banks, development institutions, financial entities, and the private sector. Second, technological innovations in E&S standards, such as the use of digital tools and artificial intelligence for enhanced risk management. Third, harmonization of E&S practices, with an emphasis on strategies for consistent application of international standards across various jurisdictions. Fourth, sectoral strategies and opportunities that provide tailored approaches to integrating environmental, social, and governance aspects in sectors like banking and venture capital.

"Environmental and social safeguards play a crucial role in ensuring sustainable and effective intermediary financing. Our commitment to integrating E&S practices into project financing will help achieve significant environmental and social outcomes while supporting sustainable infrastructure development worldwide," stated Rong Zhang, Global Coordinator of Sustainable Banking and Finance Networks at the IFC.

Alex Hadjiiavonov, Senior Specialist in Environmental and Social Affairs at ABII, added, "Over the past decade, we have witnessed a significant evolution in the ESG agenda. If I were to mention a specific figure, in 2023, OECD countries spent $230 billion on technical assistance."

The seminar was aimed at stakeholders seeking to enhance E&S safeguards in project financing, promote sustainable infrastructure, and achieve significant environmental and social results. Participants had the opportunity to deepen their knowledge and contribute to shaping the future of sustainable development.

In conclusion, this seminar marked an important step towards realizing the event’s theme, "Building Sustainable Infrastructure for All," demonstrating how effective application of environmental and social safeguards and strategies can foster the creation of more resilient infrastructure that meets the challenges of the modern world.