DUSHANBE, Tajikistan, September 4. The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) is collaborating with Tajikistan to accelerate financing for climate adaptation and mitigation initiatives in the country, Hamza Malik, Director of the Macroeconomic Policy and Financing for Development Division at ESCAP, said, TurkicWorld reports.
According to the UN, he made this statement at the opening of the training session titled "Sustainable Finance Instruments: Training on Thematic Bond Issuance" in Tajikistan.
For these purposes, ESCAP is collaborating with the Agency for Securities Market Development and Special Registration of Tajikistan, the UN RCO, and the Luxembourg Green Exchange.
"The Green Bond Issuance Training serves as a critical resource to raise awareness about how innovative financing instruments, particularly Green Bonds, can be leveraged to effectively pursue the Sustainable Development Goals (SDGs) and NDC ambitions," he said.
In turn, Parvathy Ramaswami, UN Resident Coordinator in Tajikistan, pointed out that taking advantage of green, social, sustainable, and transition bonds (GSS+) requires clear guidelines, standards, and a regulatory framework to create a favorable environment, as well as capacity-building among relevant participants involved in bond issuance.
According to Nigina Abdurakhmonzoda, Director of the Agency for Securities Market Development and Special Registration of the Ministry of Finance of Tajikistan, Tajikistan has been taking steps to establish a green bond market in 2024, with a focus on developing its corporate segment.
"Through our valuable partnership with the UN, we are committed to continue exploring opportunities to mobilize public and private finance towards climate action, including through the issuance of green bonds. I strongly encourage partners to join us in these efforts to boost sustainable finance in Tajikistan in the pursuit of a greener economy," she said.
