- 20.09.2024
Press release
Yerevan, Republic of Armenia — September 20, 2024 — The "German Armenian Fund" project management unit (GAF PMU) conducted a workshop presenting the components of the environmental and social risk management system (ESMS) to partner financial institutions (PFI) and summarizing the implemented works on evaluation of the ESMS in PFIs from the beginning of the year. The workshop also addressed environmental and social risk management issues and the challenges of implementation of the ESMS system by RA financial organizations.
Within the framework of this initiative, GAF PMU presented the approaches and principles of the development, implementation, application and continuous improvement of the ESMS risk management system. With the discussion and analysis of real examples, the attention of the participants was drawn to the existing problems, emphasizing the need for actions to be taken by the PFIs in the direction of mitigating the risks of ESMS.
At the end of the event, the panel discussion organized with the participation of the officials of the Central Bank of RA, Ameriabank, ACBA Bank, Araratbank and Armenia Leasing Credit Organization addressed the challenges of implementing the ESMS risk management system, the changes in the organizational structure and processes of the latter in order to implement the ESG system implementation agenda, and the problems of continuous development of specialists, as well as a number of other important issues.
40 representatives of 23 partner financial organizations participated in the event.
