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IFC and SocGen Romania deal a sustainable finance milestone for emerging markets

Risk transfer instruments can free up Basel III capital for banks active in emerging markets, says IFC managing director
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IFC and SocGen Romania deal a sustainable finance milestone for emerging marketsWind turbines at the Fantanele-Cogealac wind farm, operated by CEZ group, beyond a church building in Constanta, Romania (Image: Andrei Pungovschi/Bloomberg)

When Slawomir Krupa, Société Générale’s CEO, put “ESG issues at the heart” of the French bank’s new strategy following his appointment last May, IFC managing director Makhtar Diop took him at his word.

After meeting at the World Economic Forum's annual meeting in Davos in January, Diop and Krupa signed a master co-operation agreement promising to accelerate sustainable finance in developing countries as part of both organisations’ shared ambition to contribute to the UN sustainable development goals. 

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Anita Hawser is the Europe editor at The Banker. For the past 20 years, Anita has worked as a freelance journalist for a range of banking, finance and tech titles covering topics such as cybersecurity, financial crime, cryptocurrencies, payments, trade and supply chain finance. Before joining The Banker, Anita was Europe editor at Global Finance.
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