Dhaka, Bangladesh, October 04, 2017–IFC,
a member of World Bank Group, and Bangladesh Bank organized a learning
event for delegates from central banks of Ghana, Nepal, and Nigeria to
share Bangladesh Bank’s experience of adopting sound environmental and
social practices as part of sustainable banking network.
The countries are members of the Sustainable
Banking Network – an IFC-supported global knowledge platform for financial
sector regulatory agencies and banking associations from the emerging markets.
It promotes a shift in how the financial sector contributes to environmental
and social goals. Established in 2012, SBN membership has reached 31 countries,
collectively covering an estimated $42.5 trillion in banking assets.
Bangladesh Bank is one of the founding members
of the Sustainable Banking Network and a pioneer in promoting sustainable
finance. Recently, Bangladesh Bank updated its environmental and social
risk management guidelines for banks and financial institutions. It is
considered a model for emerging markets regulators embarking on a similar
“Green finance presents a huge opportunity
to deliver on the Paris accord and the Sustainable Development Goals, to
which Bangladesh is a signatory,” said Mr. S.K Sur Chowdhury, Deputy Governor,
Bangladesh Bank. “We are delighted to share our experience in environmental
and climate finance, policy development, and implementation with other
member countries to help them develop and improve their own policies and
create a green future.”
The 3-day learning event will use a mix of
lectures, presentations, and site visits, where delegates will learn about
international sustainable finance principles in banking operations and
witness first-hand how financial sector and businesses are responding to
the sustainable finance efforts by Bangladesh Bank.
“Higher standards of environmental and social
risk management by financial institutions are a powerful way to manage
concrete business risks, increase market trust, and attract investment,
especially towards green financing,” said Wendy Werner, IFC Country Manager
for Bangladesh, Bhutan, and Nepal. “We are proud to connect SBN’s regulator
members to share experience on this journey toward sustainable finance.”
IFC has also backed regulators in these efforts
by providing its technical expertise and sharing experience in implementing
IFC’s environmental and social performance standards, which have become
a global benchmark for finance in emerging markets. IFC’s Environmental
and Social Risk Management programs are implemented in partnership with
several donors including Canadian International Development Agency and
Switzerland’s State Secretariat for Economic Affairs (SECO).
About Bangladesh Bank
Bangladesh Bank, the central bank and apex
regulatory body for the country's monetary and financial system, was established
in Dhaka as a body corporate vide the Bangladesh Bank Order, 1972 (P.O.
No. 127 of 1972) with effect from December 16, 1971. It has ten offices
in Bangladesh and employed 5807 staff (officials 3981, subordinate staff
1826) as of March 31, 2015. Bangladesh Bank (BB) has been integrating 'sustainability'
into core banking practices through green banking, corporate social responsibility,
financial inclusion and financial education.
About Sustainable Banking Network
The Sustainable Banking Network is a knowledge
and capacity-building platform of financial regulators, banking associations,
and environmental regulators from emerging markets interested in developing
sustainable finance frameworks based on national context and priorities,
as well as international good practices. IFC acts as the secretariat of
the network, playing the role of facilitator and technical adviser to SBN.
SBN membership now consists of 31 member countries, which represent over
85 percent of the banking assets across emerging markets. SBN members include
regulators and banking associations from Argentina, Indonesia, Bangladesh,
Brazil, Cambodia, Chile, China, Colombia, Ecuador, Egypt, Ghana, Honduras,
India, Lao PDR, Jordan, Kenya, Mexico, Mongolia, Morocco, Nepal, Nigeria,
Pakistan, Panama, Paraguay, Peru, the Philippines, South Africa, Sri Lanka,
Thailand, Turkey, and Vietnam. Thirteen
countries have launched sustainable finance polices and guidelines to date.
For more information, visit
IFC, a member of the World Bank Group, is
the largest global development institution focused on the private sector
in emerging markets. Working with more than 2,000 businesses worldwide,
we use our capital, expertise, and influence to create markets and opportunities
in the toughest areas of the world. In FY17, we delivered a record $19.3
billion in long-term financing for developing countries, leveraging the
power of the private sector to help end poverty and boost shared prosperity.
For more information, visit www.ifc.org.