The Association of Serbian Banks (ASB), an organisation which gathers all banks operating in Serbia and the Belgrade Stock Exchange, 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 USD 43 trillion (86 percent) 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 moving towards reducing risks related to the environment, society and governing, which will bring better results for companies and private sector development in the long run”, said ASB Secretary General, Vladimir Vasić, on the occasion of joining the Sustainable Banking Network.
The International Finance Corporation, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity.