ADFIAP holds green finance advocacy briefing for Central Bank of Myanmar

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Central BankAs a partner of the Switch Asia project entitled, “SMEs for Accountability, Responsibility and Transparency Myanmar 2” or briefly, “SMART Myanmar 2” which is funded by the European Union, ADFIAP, represented by its Secretary General Octavio B. Peralta and ADFIAP Consulting Group Head Corazon D. Conde, held a half-day “Green Finance Advocacy Briefing” at the Sedona Hotel Yangon on June 24, 2016 for 22 directors, deputy directors and officials of the Central Bank of Myanmar led by Dr. Winston Set Aung, Deputy Governor, to share to them the experiences on the critical role of central banks in promoting green finance to the banking sector as well as the green finance lending activities of ADFIAP members.

The briefing, deemed as the best opportunity for the SMART Myanmar 2 project to engage with monetary policymakers to support the green initiatives of banks through policy issuances, was aimed at delivering appropriate level policy advice on why green finance can be an attractive policy option and how it can be incorporated into national policy. The briefing agenda highlighted the important role of the central banks in engaging the banking sector to support green investments, citing specific examples of successful green finance policies from other countries and green finance case studies of ADFIAP members. The policymakers were also apprised of SMART Myanmar’s “Green Project Finance Training Program” for the Myanmar Bankers Association (MBA) to gear up the country’s banking sector on green finance and gain competitive edge in the international financial markets.

SMART Myanmar 2 will continue to keep the Central Bank policymakers abreast on the progress of the green project finance training programs for MBA with the ultimate goal of engaging the monetary authority to issue policies that will pave the way for banks to open up their lending windows to green investments of SMEs.

The SMART Myanmar 2 is a 4-year project that aims to improve production and increase consumption of sustainably produced garment from Myanmar through up-scaling and improving on best practice mechanisms developed and implemented during SMART Myanmar 1, including access to finance.

For more information on the SMART Myanmar 2 project, please click on this link: https://www.smartmyanmar.org/.

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