UNDP experts will share with the Finance Ministry their experience in compiling the budgetary framework for the Sustainable Development Goals and will discuss the possibility of issuing green bonds.
The Finance Ministry announced this, noting that the UNDP experts are carrying out a mission to assess the budgetary framework of the Sustainable Development Goals in Moldova at the Finance Ministry from October 31 to November 2. The agenda includes working meetings with heads of departments, as well as diagnostics of the current system and the feasibility/readiness of issuing green bonds, including consideration of the prerequisites for their issuance. "The UNDP experts' mission is important for the Ministry of Finance, as good budget and debt management are important elements for the development of next year's budget, given that we are facing a rather difficult period related to the situation in the region and price increases. Analyzing the budget, including the budgeting of the Sustainable Development Goals, and providing the necessary solutions afterwards will contribute to good management and use of the budget," said Finance Minister Petru Rotaru at the opening of the mission. In his turn, UNDP Sustainable Development Goals Financial Advisor Suren Poghosyan highly appreciated the Ministry's efforts in budget management and noted that the mission will focus on 3 main aspects: budget, debts and taxes. The parties expressed readiness for efficient cooperation and optimal partnership in the implementation of the follow-up recommendations of the experts involved in the project of development and modernization of the public finance system in Moldova. Within this mission, UNDP experts will also conduct trainings on these components for the staff of the Ministry of Finance, National Bank, Court of Accounts, State Tax Service, Parliamentary Commission on Budget and Finance and State Chancellery. "Green bonds are one of the assets of responsible investing - an approach in which the choice of securities is based on environmental, social and governance (Environmental, Social, and Governance) factors. By investing in green bonds, an investor frees himself from worrying about the environment, because they are issued to finance environmental projects. In terms of mechanics, green bonds are no different from conventional bonds - they are the same debt securities with fixed income. The investor lends his funds to the issuers - organizations that issued the bonds - for a certain period of time. However, in this case, the funds are used to improve the environmental situation and minimize harm to nature: development of renewable energy sources, preservation of biodiversity, land reclamation, construction of waste processing complexes, introduction of electric transport, improvement of treatment facilities, adaptation to climate change, etc., as well as to improve the environment. // 02.11.2023 – InfoMarket
