The Asian Infrastructure Investment Bank (AIIB) has invested a total of $25 million in Uzbekistan’s Uzpromstroybank sustainability bonds, according to its statement on Tuesday.
This considers as the first sustainable bond under Uzpromstroybank’s Sustainable Finance framework, aligned with the green and social bond principles of the International Capital Market Association (ICMA), the statement added.
The funds will be used to finance green projects, including ones to improve energy efficiency, ease greenhouse gas emissions, ensure water security, support women-led initiatives, and finance small and medium-sized businesses.
It is worth mentioning that Egypt’s President Abdel Fattah al-Sisi is scheduled to attend the inauguration of the AIIB meetings, held on 25-26 September, in the Red Sea resort of Sharm El Sheikh.
The theme of the eighth annual meetings this year is “Sustainable Growth in a Challenging World”, which highlights the bank’s continuing commitment to supporting the key infrastructure demands of its members.
