The National Bank of Tajikistan (NBT) has taken a significant step towards promoting sustainable finance by joining the Sustainable Banking and Finance Network (SBFN), facilitated by the International Finance Corporation (IFC), a member of the World Bank Group.
This strategic partnership underscores NBT’s commitment to support the integration of environmental, social, and governance (ESG) considerations into financial sector operations in Tajikistan.
With a membership comprising 90 financial regulators and banking associations from 69 countries across emerging markets and developing economies (EMDEs), SBFN serves as a critical platform for knowledge exchange and capacity building in sustainable finance. It provides access to collective knowledge, experience and thought leadership in designing and implementing national sustainable finance initiatives. SBFN members are committed to moving their financial sectors towards sustainability, with the twin goals of (1) Improving the management of ESG risks – including climate risks – across the financial sector, and (2) Increasing capital flows to activities with positive environmental and social impacts, including climate change mitigation and adaptation.
As part of IFC’s Integrated Environmental, Social, and Corporate Governance (ESG) Advisory Program in Europe and Central Asia, supported by the Swiss Government, IFC is committed to promoting ESG and sustainable finance best practices.
Mr. Farrukh Sultonov, IFC Country Officer for Tajikistan, emphasized the significance of this milestone: “By becoming a part of SBFN, a global platform for financial sector regulators, the National Bank of Tajikistan gains access to a wealth of resources and expertise, and opens a gateway to initiatives that advance sustainable finance at national, regional and global levels.”
The National Bank of Tajikistan is the central bank of the Republic of Tajikistan and serves as the primary regulatory authority for monetary policy and financial oversight in country, playing a crucial role in steering the country’s financial sector towards sustainability. Actively engaged in implementing the Strategy for the Development of the Green Economy 2023-2037, NBT aligns its efforts with the objectives of the Paris Agreement, contributing to meeting the country’s decarbonization goals and demonstrating a firm commitment to addressing climate change and fostering resilient and inclusive economic growth.
Mr. Tolibzoda Firdavs Nazrimada, Chairman of NBT noted. “In support of its strategic priorities, NBT is collaborating with relevant ministries and agencies in the country, with international financial institutions and development partners to promote the sustainable development and green finance in the financial market of the Republic of Tajikistan”.
“SBFN proudly extends a warm welcome to the National Bank of Tajikistan,” noted Rong Zhang, SBFN Global Coordinator. “Through our collective efforts, we strive to positively impact the financial sector landscape, assisting NBT in accelerating sustainable and green financing, and improving the financial sector’s ESG practices”.
The National Bank of Tajikistan’s membership in SBFN represents a significant milestone in the country’s journey towards building a more resilient and sustainable financial sector.
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