The delegation of Eldik Bank OJSC at the SCO IBO meeting

The delegation of Eldik Bank OJSC, headed by the Chairman of the Board Ulanbek Nogaev, participates in the work of the Council of the Interbank Association of the Shanghai Cooperation Organization in Astana.

One of the main issues of the meeting was the implementation of the ESG agenda. In order to intensify cooperation between the parties and study best practices in the use of ESG financing, a Memorandum of Cooperation in the framework of ESG financing was signed today between the member banks of the SCO IBO.

During the event, Ulanbek Nogaev noted that this document should turn into an effective mechanism for the implementation and development of ESG standards in SCO IBO member banks. Eldik Bank proposes to issue and place “green bonds” on international stock exchanges with preliminary agreements on the purchase of the issue by SCO IBO partner banks.

It is worth noting that Eldik Bank demonstrates good results in this area, claiming to receive an ESG rating and advocating responsible financing. The Bank was the first bank in the Kyrgyz Republic to join the UN Global Compact, expressing its readiness to support the Organization’s goals and initiatives in the field of sustainable development. The Bank is committed to aligning its activities and strategy with ten universally recognized principles in the areas of human rights, labor, the environment and anti-corruption. The bank also finances environmental projects.