Tashkent, Uzbekistan (UzDaily.com) -- On 20 October this year, the International Monetary Fund and the World Bank held an online event on "SDGs and bonds: for shared impact" on the sidelines of their annual meeting.

The event was organised by UNDP and the European Investment Bank (EIB), comprising over 120 international financial institutions (ADB, French Development Agency, ITB, UN, UNDP, EIB, IHTT, etc.), foreign banks (J.P. Morgan, BNP Paribus, Gazprombank, Mizuho, Landesbank Baden-Württemberg), international rating agencies, embassies, ministries (Ministries of Finance of Italy, Indonesia, Argentina, Egypt) and international investors (Franklin Templeton Investments, Nomura).

During the meetings, the EIB Capital Market Director and the Vice President for Environmental (Climate) Issues, Public Debt Department of the Ministry of Finance and the Directors of the Department of Budget Finance and Risk Management of the Ministry of Finance of Indonesia exchanged views on the Sustainable Development Goals and SDG bonds.

In particular, the representative of the Ministry of Finance commented on:

- Uzbekistan’s Sustainable Development Goal (SDG) bond programme developed this year;

- the first BRM bond transaction carried out under this programme and its significance for Uzbekistan and its direct and indirect impact;

- the role and practical assistance of UNDP in the implementation of the transaction;

- the advantages and disadvantages of the BRM bonds compared to other alternative financing instruments;

- plans for financing projects to achieve the Sustainable Development Goals of Uzbekistan going forward.

It should be noted that the measures aimed at achieving sustainable development goals in our country, the work carried out within the framework of cooperation between the Ministry of Finance and UNDP, information on the SDG bonds developed by Dapturi and the first SDG bonds of Uzbekistan issued and placed within its framework will serve to further strengthen relations with international financial institutions.

Uzbekistan’s local currency SDC bonds issued and placed this year are sovereign international bonds with MDG status in Central and Eastern Europe, the Middle East and Africa (CEEMEA) and first "environment, social and governance" (ESG) status issued by CIS governments.

The SDG Bond Programme provides for the selection, financing and refinancing, monitoring the implementation of projects related to setting priorities and targets for financing the achievement of the 2030 Sustainable Development Goals of Uzbekistan, ensuring environmental, social and sustainability based on established criteria.

It is worth noting that the main purpose of developing the SDG bond programme is to provide a framework for the issuance of SDG bonds in the current and future years, and to ensure that the Sustainable Development Goals Uzbekistan by 2030, as well as increasing transparency and accountability.