The National Agency for Perspective Projects (NAPP) has registered the first official issuance of green bonds in Uzbekistan by the Mortgage Refinancing Company. This issuance, totalling UZS 50bn (nearly $4mn), marks a significant step forward in the country's push toward sustainable finance following recent amendments to the rules of securities issuance and registration made in June 2024.
The company aims to finance and refinance green loans for renovations, which will be offered by commercial banks. These loans will promote the use of energy-efficient materials in construction and renovation projects, contributing to the country's environmental goals.
The issuance has received a positive external assessment from the AIFC Green Finance Center, which confirmed its compliance with the Green Bond Principles established by the International Capital Market Association.
Additionally, a certificate was issued to certify that these bonds meet the necessary green standards outlined under the company's base issuance program.
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