Regulatory Alerts2023-10-06
Added
Banking and Financial Services (Green Loans) Guidelines, 2023
The Bank of Zambia establishes mandatory governance, risk management, and disclosure requirements for financial service providers issuing green loans. The guidelines require boards to approve green loan strategies and senior management to implement policies aligned with Green Loan Principles, including the development of client risk rating standards and action plans for high-risk projects. Providers must ensure loan proceeds finance eligible environmental projects defined in Schedule 1, track usage transparently, and enforce annual borrower reporting on fund utilization and material changes. These rules apply proportionately to all financial service providers and take effect upon publication in the Government Gazette.
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