BigstockPromoting green finance is a focus in Bangladesh, the study showsA new report by the International Finance Corporation (IFC) facilitated Sustainable Banking Network (SBN) shows that Bangladesh, Mongolia, and Nepal have identified green finance as a top priority for sustainably developing their financial sectors. In the wake of the challenges, the report stated that in Asia, promoting green finance, such as green bonds and green loans, is particularly a focus in Bangladesh and Mongolia. The two countries, along with Nepal, are also working on developing national sustainable finance roadmaps as part of efforts to reduce market risk and incentivize green finance flows. “In the context of a circular economy, resource efficiency is key,” said Asif Iqbal, joint director, Sustainable Finance Department at Bangladesh Bank. Last month, Mongolia’s Financial Regulatory Commission and IFC signed an MoU to further develop the market for green finance in Mongolia.

Source: Dhaka Tribune June 23, 2020 09:22 UTC