Dushanbe, 4 September 2024 (TDI): The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) has announced a collaboration with Tajikistan aimed at accelerating climate financing for adaptation and mitigation projects within the country.
Hamza Malik, Director of ESCAP’s Macroeconomic Policy and Financing for Development Division, revealed this initiative during the launch of a training session on “Sustainable Finance Instruments: Training on Thematic Bond Issuance” held in Dushanbe.
ESCAP’s partnership involves the Agency for Securities Market Development and Special Registration of Tajikistan, the UN Resident Coordinator’s Office (RCO), and the Luxembourg Green Exchange.
UN Resident Coordinator, Ms. Parvathy Ramaswami together with the Ministry of Finance, launched the first ever training on “Sustainable Finance Instruments: Thematic Bond Issuance” in #Tajikistan, as part of the UN support to develop #greenbonds market in the country. pic.twitter.com/nkCIr9cGE5
— United Nations in Tajikistan (@UNinTajikistan) September 2, 2024
Malik emphasized that the Green Bond Issuance Training is crucial for raising awareness about the use of innovative financing tools, particularly Green Bonds, in achieving the Sustainable Development Goals (SDGs) and Nationally Determined Contributions (NDCs).
Parvathy Ramaswami, UN Resident Coordinator in Tajikistan, noted the necessity of clear guidelines, standards, and a robust regulatory framework to foster a conducive environment for the issuance of green, social, sustainable, and transition bonds (GSS+).
She stressed that capacity-building for relevant stakeholders is also essential.
Tajikistan to Establish Green Bond Market
Nigina Abdurakhmonzoda, Director of the Agency for Securities Market Development and Special Registration at Tajikistan’s Ministry of Finance, highlighted that Tajikistan is working towards establishing a green bond market by 2024, with an emphasis on expanding its corporate segment.
“Our partnership with the UN is vital for mobilizing both public and private finance for climate action, including through green bonds,” Abdurakhmonzoda said.
“We invite our partners to join us in advancing sustainable finance efforts in Tajikistan and support our drive towards a greener economy.”
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