It should be noted that the operation of this mechanism will not imply extraordinary expenses for the State, as established by the regulations.
Through Resolution 1529/2023, the Ministry of Economy approved the creation of a Structuring Support Project Evaluation and Selection Committee of Sustainable Sovereign Financing. This committee will have as its primary objective the evaluation and selection process of eligible projectss for financing instruments within the framework of the National Sustainable Finance Strategy (ENFS).
This committee will be composed of three members, representing the Secretariats of Economic Affairs and Financial, International, Finance and Treasurywith the head of the first area as president.
In the context of the transition towards sustainable production models, It is essential to work on the development of mechanisms that facilitate the mobilization of adequate resources to achieve comprehensive developmentaddressing both social and climate challenges, as indicated in the recitals.
In this sense, Both the capital market and the banking system will play a crucial role in financing projects and activities aimed at a sustainable economy. The emergence of specialized markets for bonds and loans aimed at social and environmental purposes, such as “green bonds”, is an increasingly entrenched trend that demands transparency in the selection, reporting and evaluation of financed projects.
The committee will summon the ministers or secretaries relevant to the matter in question before each financial operation. It should be noted that the operation of this mechanism will not imply extraordinary expenses for the State, as established by the regulations.
The committee will be made up of representatives of the following secretariats of the Ministry of Economy:
- Secretariat of International Economic and Financial Affairs
- Finance Secretary
- Secretary of Finance
- The committee will be convened and chaired by the head of the Secretariat of International Economic and Financial Affairs, or by whomever he/she designates.
- At their first meeting, The committee will establish its internal operating regulationsand the distribution and scope of the tasks to be performed by each member.
- The implementation of this resolution will not generate any budget expenditure.
In summary, the Resolution creates a committee that will be in charge of evaluating and selecting projects that fit the ENFS criteria. This committee will have a fundamental role in promoting sustainable development.
Source: Ambito
