Within the 57th annual meeting of the Asian Development Bank (ADB) hosted by Georgia, Ekaterine Mikabadze, Vice Governor of the National Bank of Georgia, participated in a discussion focusing on sustainable finance.

Organized by Galt & Taggart and TBC Capital, the discussion highlighted the significance of environmental, social, and governance (ESG) issues in capital market development and sustainable finance.

Mikabadze underscored the pivotal role of capital market development and highlighted the NBG’s initiatives aimed at stimulating this sector. She noted, "The year 2023 was exceptional for capital market development, with the market nearly doubling. We are hopeful that this positive trend will persist and expand. The legislative measures and targeted initiatives implemented by the National Bank of Georgia form the foundation for this progress."

According to Mikabadze, specific programs will continue, serving as the foundation for maintaining positive trends in market development.

Mikabadze also emphasized the growing global and local demand for sustainable finance, highlighting the NBG's active efforts in developing regulations and supervisory rules aligned with international standards and tailored to Georgia's market specifics.

The discussion, attended by representatives of local and international financial institutions, focused on the sustainable development of the capital market. Participants reviewed investment projects contributing to the growth and development of the ESG and green bond market in Georgia and other developing countries.

 

The 57th ADB annual meeting, taking place in Georgia for the first time from May 2-5, serves as a platform for ADB and its partners to address challenges facing the Asia-Pacific region.