LSFI identifies three steps for the development of capital markets in CAREC
Member countries of the Asian Development Bank’s (ADB) Central Asia Regional Economic Cooperation (CAREC) program must take three key steps to develop their capital markets.
According to elchi, Nicoletta Centofanti, CEO of the Luxembourg Sustainable Finance Initiative (LSFI), stated this at a capital markets seminar during the 59th Annual Meeting of the ADB Board of Governors.
According to her, first and foremost, strategic clarity is essential.
“First, we need a clear goal and an officially designated body with the authority to coordinate and drive this agenda forward. Second, accountability: process participants must be responsible for the results. This applies to both investors and government agencies. It is important to structure the work of all platforms so that the mission and the ultimate goal are clear,” she noted.
According to her, the third key element is infrastructure development.
“It is important to ensure an effective connection between capital and its recipients – to connect issuers with investment companies and create conditions for a fully functioning market,” N. Centofanti emphasized.