AIFC Green Finance Centre held a meeting with the company Golden Equator from Singapore on 27 October 2021. At the meeting, representatives discussed the possible cooperation in building an ecosystem of green projects for the countries of Central Asia and the development of a green finance market. As the first steps towards cooperation, the parties agreed to jointly organise events and webinars as well as work on community building and share access to know-how, both in Kazakhstan and Singapore.
Golden Equator is a group of companies with extensive experience in such areas as finance, wealth and legacy management, consulting, investment in technology companies, education and business community development. Golden Equator strives to create an environment in which communities, technology, capital and learning come together to develop human potential and open up new opportunities. Golden Equator Group of companies that include the following organisations: Golden Equator Wealth, Golden Equator Partners, Golden Equator Ventures, SPECTRUM, Consulting, Pinnacle and The Simple Sum. The advantages of the AIFC platform and the activities of the Green Finance Center in Central Asia were also discussed at the meeting.
With the intention to build cooperation between Kazakhstan and Singapore, and to further strengthen the ties between Central Asia and Southeast Asia, the Founder and Group CEO of Golden Equator, Shirley Crystal Chua, attended the meeting. Also in presence were CEO of Golden Equator’s Capital businesses Gary Tiernan and Managing Partner of International Markets Adam Flinter. The delegation from Singapore highly appreciated the potential of Kazakhstan in becoming a centre of the Central Asia region.
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The Astana International Financial Centre was created by the initiative of the First President of the Republic of Kazakhstan, Leader of the Nation, Nur-Sultan Nazarbayev as part of the “100 steps to implement five institutional reforms” national program. The Centre’s development strategy until 2025 was approved by the Management council of the AIFC during the council’s meeting on July 2, 2020. In accordance with the strategy, the vision of AIFC is in becoming the leading financial centre in the region that includes Central Asia, the Caucasus, EAEU countries, western China, Mongolia, and Eastern Europe.
The mission of the AIFC is to assist the sustainable and long term development of the region. As the head of state Tokayev noted, “AIFC, with its unique opportunities, can act as a universal platform that connects the countries in the region.” The strategic directions for sustainable development of the AIFC include the development of a circular economy, financial technologies and a “digital financial centre”.
The AIFC Green Finance Centre is a subsidiary organisation of the AIFC Authority and the Eurasian Development Bank, aimed at introduction and development of sustainable finance instruments and attracting of investments in environmental and social projects in Kazakhstan and Central Asia.
The AIFC Green Finance Centre supported the very first issuance of green bonds and first verified green loan in Kazakhstan. Also, the Centre introduced definitions of green finance and green taxonomy (a classifier of economic activities and projects that meet technical selection criteria) in the national environmental legislation. The new legislation provides incentives for entrepreneurs who use green finance instruments.
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