Himal Press 
KATHMANDU: Two working group meetings of the Alliance for Financial Inclusion (AFI), hosted by the Nepal Rastra Bank (NRB), kicked off in Kathmandu on Tuesday.
The Nepal Rastra Bank (NRB) and AFI are jointly organizing the 8th Meeting of the Inclusive Green Finance Working Group and the 20th Meeting of the SME Finance Working Group. Representatives from over 80 central banks and financial sector regulators from 41 countries are participating in the meetings, which will continue until March 10.
During the inaugural ceremony, Acting Governor Dr Nilam Dhungana Timilsina emphasized the importance of strengthening policy measures to address the risks that developing economies face in terms of social inclusion, economic prosperity, and financial stability due to climate change impacts. She also highlighted initiatives taken by the central bank to promote small and micro enterprises and increase their access to finance. Dr Timilsina also thanked the AFI for providing grants and technical know-how for the formulation of green taxonomy.
Similarly, AFI Executive Director Dr Alfred Hannig highlighted the role of SMEs in job creation and improving livelihoods in developing economies. He also emphasized the need to bring concrete programs to minimize the risks created by climate change. Dr Hannig hailed the role of the Nepal Rastra Bank in promoting green finance, saying that Nepal’s experiences could be followed by other central banks.
AFI formed the Inclusive Green Finance Working Group in 2019 to promote green finance by dealing with the adversities created by climate change, while the SME Finance Working Group was created in 2013 to bring about economic growth, sustainable development, and poverty alleviation through the promotion of SMEs.
