(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 4. The sustainabilitylink, or green financial product, has become a hot commodity inUzbekistan, Regional Head of Asian Development Bank (ADB) EnricoPinali said during the III Tashkent International Investment Forum,Trend reports.
“A lot of state-owned enterprises are looking for it, whether todirect funding from ADB and others or to access the capital market.I think one of the challenges in the work so far has been to helpdevelop the green pipeline, the taxonomy, or the green project can take different faces. You can work on developing a productthat is targeted to specific categories like renewable energy orenergy efficiency,” he said.
Enrico Pinali noted that banks have to create a dedicatedproduct line, and that's something that ADB is trying to do and hasdone with some state-owned enterprises.
“Other areas of engagement have been the construction mortgageindustry. The challenge in this area is how to design aconstruction industry-related product and how to renovate towardgreen principle houses. You have to be able to monitor to justifythat it is green,” the regional head of the bank added.
Meanwhile, the III Tashkent International Investment Forum washeld in Tashkent on May 2–3.
Almost 2,500 people from 84 countries were expected toparticipate in the forum. Among them were governmentrepresentatives, heads of major companies, as well as high-rankingguests from international organizations such as the UN, EBRD, OPEC,and SCO.
The forum program included more than 40 events, includingbreakout sessions, round tables, presentations, and meetings ofintergovernmental commissions. A launching ceremony for a number ofprojects in Uzbekistan was also envisaged.
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