The Academy of Principles for Responsible Banking (PRB Academy), established to assist Central Asian banks in transitioning to sustainable and environmentally responsible business practices, has been launched in Bishkek. The Academy, opened under the United Nations Environment Program Finance Initiative (UNEP FI), with the support of the Union of Banks of Kyrgyzstan and international partners.

The Academy aims to train banks in sustainable financing methods to achieve the Sustainable Development Goals (SDGs) and comply with the Paris Climate Agreement.

Welcoming speeches at the event were delivered by Anvar Abdraev, President of the Union of Banks of Kyrgyzstan, Aidai Kurmanova, Head of UNEP Subregional Office for Central Asia, and Daniel Buzas Luis, UNEP FI Regional Manager for Europe. The speakers emphasized the importance of adapting global solutions to regional needs and the role of banks in addressing the region's environmental and social challenges.

“We can say that the Responsible Banking Academy presents a training program open to banks that are not yet members of UNEP FI and potentially want to join the principles of responsible banking,” Daniel Buzas Luis, Regional Head for Europe, United Nations Environment Program Finance Initiative (UNEP FI), pointed out.

The main objective of the PRB Academy is to help banks implement responsible banking principles adapted to local conditions. This includes supporting customers to make more responsible decisions and developing financial tools to combat climate change.

“A responsible bank is, therefore, one that does not just provide finance to its customers, but also helps them manage their resources properly so that all their endeavours are in line with ESG principles,” Daniel Buzas Luis added.

The Academy courses are available in Russian and cover key topics such as customer service, risk management and strategic guidance for board members. Currently, the Academy training is free of charge as it is being run in a test mode and so far consists of four modules that are studied over two days, but the Academy program will be transformed over time.

“Shortly, the Academy will receive accreditation, which will let all those trained at the Academy to receive an international certificate and be recognized internationally. Thus, graduates of the Academy will be in demand in organizations that adhere to the sustainable development and responsible banking principles,” Anvar Abdraev, President of the Union of Banks, noted.

In the future, the Academy will work not only in Kyrgyzstan but in the rest of CA countries as well. In this regard, a flexible system of tuition fees will be further developed. It is noteworthy that not only bank employees may study at the Academy.

"We have also registered representatives of government agencies. In particular,  the National Bank and Climate Finance Centre representatives are participating in the event. Mailings have been sent to all our partners, including the Ministry of Economy and Commerce, the Ministry of Environment, and other government agencies. However, first of all, we see the importance of training the employees of banks, financial institutions and partner organizations that will directly interact with financial institutions,” Rustam Sarybaev, Director of the Training Center of the Union of Banks of Kyrgyzstan, said.

The launch of PRB Academy was an important step towards introducing sustainable development principles in the financial sector in Central Asia. Banks now have the opportunity to learn and apply approaches that will help them not only develop their business but contribute to addressing regional environmental challenges as well.