IIGF visits World Bank headquarters in Washington
At the invitation of Yang Yingming, Executive Director of China in the World Bank, Professor Wang Yao, Dean of the Green Finance International Research Institute of the Central University of Finance and Economics, and Professor Shi Yan, Deputy Dean, and Wang Yali, a researcher of the International Cooperation Department, and his delegation visited the World Bank's Washington headquarters from June to June 25, and communicated with World Bank experts on the cooperation between relevant Chinese institutions and the World Bank in green finance, and gave 2 keynote speeches.
The delegation of the Green Gold Academy visited the World Bank and the Executive Director's Office of China, the Environment Bureau, the Climate Change Bureau, the Treasury Department, the Ministry of Agriculture and Finance, the International Finance Corporation (IFC), and the Global Environment Facility (GEF). The team held closed-door seminars, respectively, and conducted in-depth discussions on cutting-edge topics such as biodiversity, blue economy, green agricultural finance, global green finance standardization, and green panda debt.
Naoko Ishii, CEO of the Global Environment Facility (GEF), Karin Kemper, Director of the World Bank's Environment Bureau, Heike Reichelt, Chief Financial Officer of the Bank's Treasury Department's Financial Bureau, Panos Varangis, Head of the Bank's Agricultural Finance Department, and Neeraj, Director of the World Bank's Climate Change Bureau Experts such as Prasad and staff from multiple departments of the World Bank participated in the seminar and reached consensus on the next step of cooperation.
At a special luncheon hosted by the Global Environment Facility (GEF), Wang Yao delivered a keynote speech and introduced the development process of China's green finance and the monitoring of the use of China's green bonds to more than 50 invited guests. Relevant mechanisms such as, reporting, and verification, the role of green PPP in mobilizing social capital to participate in green finance, and the policy trends and practices of green finance along the “Belt and Road”, China ’s rapid development of green finance has been attended by experts Their approval. In the interactive session, Wang Yao answered the guests' questions about the challenges facing China's green finance development. Both sides also had a lively discussion on topics such as the development of green finance in urban agglomerations, the construction of a green financial regulatory system, and the role of green finance in the energy transition. .
At the World Bank China Staff Association, Wang Yao gave a special lecture on "Understanding My Motherland Series: Green Finance in China", introducing the causes, history, and latest progress of China's green finance development, and how to deal with the bottlenecks of green finance development Relevant suggestions were put forward: such as highlighting green development in key areas such as pollution control and emission reduction during urban and rural construction, building a multi-in-one green financial comprehensive service system, paying attention to the effect of policy implementation and doing a good job in transforming work, and incorporating green financial performance into the annual Job responsibility goals, etc.
The World Bank Group (World Bank) was established in 1944 and is one of the specialized agencies of the United Nations. It is composed of the International Bank for Reconstruction and Development (ERBD), International Development Association (IDA), International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and The International Investment Dispute Resolution Center (ICSID) is composed of five member institutions. The embryonic carbon fund (PCF) it founded was the earliest carbon fund in the world. The Global Environment Facility (GEF), an experimental project created by the World Bank in 1990, is the only comprehensive funding mechanism for international environmental conventions. Since 1991, it has provided $ 12.5 billion in grants to 3,690 projects in 165 developing countries. Leveraged $ 58 billion in co-financing.