International Finance Corporation to launch Sustainable Banking Network
International Finance Corporation, member of the World Bank group, has unveiled a Sustainable Banking Network that helps bank regulators develop green-credit policies.
The network will also help knowledge and technical sharing between the regulators to draw up environmental and social risk-management guidelines.
The lending agency's decision to establish the networks follows requests from a number of countries that convened at the first International Green Credit Forum in Beijing in May 2012.
Commenting on the developments IFC Vice President for Asia Pacific Karin Finkelston remarked that the Sustainable Banking Network will open up new financial product areas and markets.
"Bank regulators play a key role in guiding the private sector in capitalizing on these business opportunities while ensuring societies' sustainable development.
"IFC takes a leadership role in supporting the network to help build capacity and partnerships for improved implementation of environmental and social standards," said Finkelston.