The Association of Serbian Banks (UBS), an organization that brings together all banks operating in Serbia, as well as the Belgrade Stock Exchange, has joined the Sustainable Banking Network (SBN) of the International Finance Corporation (IFC).
The Sustainable Banking Network is a unique, voluntary community of financial sector regulatory agencies and emerging market banking associations, committed to advancing sustainable finance in line with good international practice. Together with 41 member countries, it represents 43 trillion dollars (86%) of total banking assets in emerging markets.
– With this membership, the financial sector of Serbia has made another step in accepting the best banking practices, which is a long-term goal of the Association of Serbian Banks. We are going to reduce the risks related to the environment, society and management, which will bring better results for companies and private sector development in the long run – said the Secretary General of UBS, Vladimir Vasic, on the occasion of joining the Sustainable Banking Network.
The International Finance Corporation (IFC) is a member of the World Bank Group and the largest global development institution focused on the private sector in emerging markets. It works in more than 100 countries, using its capital, expertise and influence to create markets and opportunities in developing countries.
In fiscal 2020, it has invested 22 billion dollars in private companies and financial institutions in developing countries, using the power of the private sector to stop extreme poverty and foster shared prosperity, eKapija reports.
