Azerbaijan's authorities planning debut issue of green bonds

BAKU. Dec 15 (Interfax) - Azerbaijan's government has begun preparations for the issuance of the country's first sovereign green bonds, the Finance Ministry said.

The ministry said that the first meeting of the working group established to ensure the development of a framework document for the issuance of such bonds took place on December 15.

"The meeting participants discussed international experience in issuing green bonds and exchanged views on the application of the initiative in Azerbaijan. Experts engaged by the Asian Development Bank reviewed the stages of the upcoming work on issuing sovereign green bonds," the ministry said.

The working group has been tasked with drafting a framework document to issue Azerbaijan's sovereign green bonds and define criteria to select environmental projects to be financed by them.