LSFI outlines three steps to develop capital markets in CAREC countries

CAREC countries need to take three key steps to develop capital markets, said Nicoletta Centofanti, CEO of the Luxembourg Sustainable Finance Initiative (LSFI), at a seminar on capital markets held within the framework of the 59th Annual Meeting of the ADB Board of Governors, Report informs.

According to her, first and foremost, strategic clarity is needed.

"First, there needs to be a clear objective and an officially designated body empowered to coordinate and advance this agenda. Second - accountability: participants in the process must be responsible for results. This applies to both investors and public institutions. It is important to organize the work of all platforms in such a way that the mission and the ultimate goal are clear," she noted.

The third key element, according to her, is infrastructure development.

"It is necessary to ensure an effective link between capital and its recipients - to connect issuers with investment companies and create conditions for the full functioning of the market," Centofanti emphasized.