Uzpromstroybank was awarded the certificate of CAFI - a platform for assessing climate change
Tashkent, Uzbekistan (UzDaily.com) -- The International Finance Corporation awarded a certificate of two categories for activities in financing green projects to Uzpromstroybank. Thus, it is recognized that the bank is one of the leading financial institutions in the Middle East and the Central Asian region.
The reforms carried out by Uzpromstroybank throughout the country on the transition to a "green" economy are actively supported.
In the process of transformation carried out jointly with the International Finance Corporation (IFC), a specific mechanism has been created in this direction. In particular, the Action Plan for the development of the environmental and social risk management system was developed. The "green market" has been explored. Green financial products have been developed for corporate and wholesale clients, representatives of small and medium-sized businesses.
In recent years, according to the recommendations of international experts, the bank has been effectively using the CAFI (Climate Assessment for Financial Institutions) platform launched by the IFC to assess green projects.
Over the past period of the current year, the institution financed projects worth 101.2 million US dollars, the cost of which was estimated using this program. Thus, greenhouse gases released into the environment decreased by 39.8 thousand tons.
In the certificate presented by the IFC under the CAFI program, the activities of Uzpromstroybank in this direction are recognized in two categories:
– “Allocating the largest number of green loans”;
– “Reducing the largest amount of greenhouse gas waste.”
It should be noted that CAFI is a climate change assessment platform for financial institutions, it studies the activities of partner financial institutions of the International Finance Corporation in the fight against climate change, as well as the promotion of projects financed by them, the impact on the environment.
At the same time, for each direction (category), separate criteria are defined that cover such factors as adaptation to climate change, green buildings, renewable energy sources, transport, water and energy efficiency.
The platform is currently used by 144 financial institutions in over 50 countries.
The activities of Uzpromstroybank in financing green projects are highly appreciated not only by our government, but also by the world community.
A striking example of this is that the bank was twice awarded the nomination "The Best Project in the Direction of Green Finance" by the European Bank for Reconstruction and Development, and was also encouraged by the Center for Green Finance (Kazakhstan) as the "Best Green Investment Bank".