Panel session «Financing sustainable development: are there opportunities for growth» of IX Moscow International Financial and Economic Forum
A panel session «Financing sustainable development: are there opportunities for growth» was held on November 24, 2022. It was attended by representatives of governing bodies, national and multilateral development institutions, the expert community, Russian and foreign commercial banks and non-banking business associations, enterprises and organizations.
The following issues were discussed: the prospects of financing sustainable development (SDGs) in the global, regional and national contexts; the problems of fragmentation of the monetary and financial system; payment and settlement and monetary relations with friendly and unfriendly countries; the evolution of interbank relations under the influence of secondary sanctions; the role of new technologies in addressing current problems with cross-border payments and settlements; opportunities for collective digital currencies and new international payment platforms outside national jurisdictions; the prospects of forming a common monetary, financial and payment space in the Eurasian Economic Union (EAEU) with the BRICS countries and the SCO; the logic of monetary and financial reforms; the role of the G20 and the B20 in developing and taking measures to improve the monetary and financial world order.
The panel session was moderated by Oleg Preksin, Vice-President-Member of the Board of the Association of Russian Banks, Chairman of the International Banking Committee, Member of the FBA EAC Executive Board, Deputy Chairman of Russian Financial and Banking Union (RFBS), and Alexey Maslov, Director of The Institute of Asian and African Countries at Lomonosov Moscow State University, Doctor of Historical Sciences, professor.
Li Shuobing, President of FBA EAC, Founder and CEO of SLC-Rus, and Alexander Murychev, Vice-President of RSPP, Chairman of the Organizing Committee of the Forum and Chairman of International Banking Council addressed the auditorium comprising around 150 people with a welcome speech.
The discussion was opened by Bakhytbek Baiseitov, President of Association of Banks of the Republic of Kazakhstan, Chairman of FBA EAC Business Council, who focused on the problems of financing sustainable development. Andrei Klepach, Deputy Chairman, Chief Economist of VEB.RF and Honored Economist of the Russian Federation, continued the discussion.
Sergey Dubinin, Deputy Chairman of the RSPP Committee on International Cooperation, Head of the Department of Finance and Credit of the Faculty of Economics of Moscow State University (MSU), spoke about the policy of systemic risk management in the context of sanctions. Mikhail Ershov, Chief Director of Financial Research at the Institute of Energy and Finance and Professor at the Financial University under the Government of the Russian Federation, spoke about the possibilities of financing economic growth in the context of external restrictions.
The presentation by Grigory Gruzinov, Head of the Moscow Branch of the International Investment Bank (IIB), focused on the activities of international financial institutions in the context of cross-border currency and credit transactions. Igor Shikov, Adviser on Tax Practice at Egorov Puginsky Afanasiev & Partners, dwelled on practical aspects of currency settlements and credit relations with friendly and unfriendly states, while Ulf Schneider, President of Schneider Group of Companies, shared the experience of banking support for small and medium businesses, taking Germany as an example.
Dmitry Mityaev, Executive Secretary of the Scientific and Technical Council under the Chairman of the Board of the Eurasian Economic Commission (EEC), Assistant to the Member of the Board (Minister) on Integration and Macroeconomics of EEC, spoke about the alternatives for forming a new trade and financial and payment and settlement architecture of Greater Eurasia and the development imperative in the formation of common markets of resources, technology, labor and capital.
Andrey Lisitsyn, Director of Financial Policy and Financial Markets Department of RSPP, continued the discussion. His report, based on the surveys conducted by RSPP among the business community, was devoted to the pressing problems of cross-border settlements and the position of business with regard to possible solutions.
The presentation by Sergey Kalinin, Managing Director for Government Relations of ETP GPB (Gazprombank Group) reflected the practical issues of settlements in import substitution using the group's Technological Navigator in the sphere of procurement. Ivan Savushkin, the manager of NAWINIA Group's business development block, used examples to describe the peculiarities of international logistics and payment relations in the new reality from the shipper's point of view.
The discussion was concluded by Irina Melnikova, Senior Managing Director of the National Rating Agency (NRA), who spoke about the development and application of national green ratings in an era of high turbulence.
The participants of the meeting supported the moderators' proposal to take into account the recommendations voiced during the session in the process of trade and economic cooperation within the EAEU, BRICS and SCO, to promote them in further formation of monetary and financial relations with counterparties in friendly and unfriendly countries, to actively use the working platforms of FBA EAC and RSPP to develop public-private partnerships, organize and conduct bilateral and multilateral meetings of participants in foreign economic activity, interested in implementing specific projects and programs of cooperation aimed at achieving the proclaimed goals of sustainable development.