Azerbaijan’s Central Bank develops guidelines for ‘green loans’

The Central Bank of Azerbaijan (CBA) has developed guidelines for the implementation of "green loans" and other related financial instruments, stated Kanan Mammadov, a leading economist at the Sustainable Finance Department of the CBA, Report informs.

Mammadov made this announcement at the conference on "The Role of Small and Medium Businesses in the Green Economy," in Baku, organized by the Small and Medium Business Development Agency (KOBIA) with the support of the ministries of Economy and Ecology and Natural Resources.

"These guidelines are closely related to the 'green taxonomy'. They have already been sent to the market participants, and after receiving their responses, they will be presented to the CBA Board of Directors. The guidelines are expected to be approved in the coming weeks," Mammadov noted.