SUSTAINABLE DEVELOPMENT IN THE BANKING SECTOR WAS DISCUSSED IN TURKMENISTAN

The third meeting of the Joint Expert Group (JEG) of UN and Government of Turkmenistan was held to study integration of sustainable development principles in the banking sector.

The group comprised of the representatives of the Ministry of Finance and Economy, the Ministry of Foreign Affairs, the Ministry of Labor and Social Protection of the Population, the Ministry of Trade and Foreign Economic Relations of Turkmenistan, the State Committee on Statistics, the Central Bank and the State Bank for Foreign Economic Affairs of Turkmenistan, and the UN Country Team.

The members of group learned the international experience and discussed approaches to promotion of sustainability principles in banking.

Having informed the participants about the importance to ensure sustainable development, Dr. Johanna Dichtl, UNEP Finance Initiative Sustainability Expert, presented principles for responsible banking. She emphasized that in order to achieve the Agenda 2030 and Sustainable Development Goals, active engagement of all stakeholders, including the banking sector of economy is very much important. In this regard, the implementation of the Principles for Responsible Banking, namely Alignment, Impact & Target Setting, Transparency & Accountability, will substantively contribute to the achievement of the abovementioned global goals and tackle climate change issues.

In its turn, the representatives of the Central Bank of Turkmenistan also shared the vision on enhancing sustainability in the banking sector and highlighted the achievements made so far in this direction.

Sustainable development in the banking sector was discussed in Turkmenistan