bashkim nurboja : through financial education, central bank of the republic of kosovo is contributing to informing and increasing citizens'knowledge of economic concepts speech by mr bashkim nurboja, acting governor of the central bank of the republic of kosovo, at the " prizes for the best essays " award, pristina, 20 june 2023. * * * greetings everyone, i am pleased to welcome you to the central bank of the republic of kosovo, on the occasion of awarding the prizes for the best essays in the context of the competition : " plan your money, plant your future " whose message is to focus on sustainability and raise awareness on the implications of individual financial behaviour, both on the financial future and on the environment and society. since 2013, cbk is part of this organization, led by the organization for economic cooperation and development ( oecd ) which aims to raise awareness among children and young people about economic and financial issues. the global money week is organized in 176 countries around the world and about 53 million children and young people from different countries of the world participate in this event almost every year. the central bank is engaged in promoting and maintaining financial stability in the country, and is also tasked with regulating and supervising the financial system in kosovo and ensuring that it functions in a stable and effective manner. today, the financial sector is one of the main contributors to the economy of kosovo and one of the most stable and successful sectors in kosovo, as well as one of the main pillars of support for businesses and individuals. cbk remains committed to continuing its activity in the service of the stability and development of the country's economy, creating the conditions for the development of a stable financial infrastructure, in line with contemporary developments in this field. financial education is a function through which the cbk contributes to outreach and awareness raising of citizens with the aim of improving their insights about economic and financial concepts, products, services offered by the financial sector and creating habits to make appropriate choices and take effective action to improve their financial well - being. financial education is important for cbk because it contributes to the stability of the financial system : informed and financially educated citizens know more and understand the products and services of the financial sector, are more protected, are more capable of making smart decisions and manage their finances better and cope with difficult financial situations. this helps to reduce the risk of financial crises and to maintain the stability of the financial system. 1 / 2 bis - central bankers'speeches through the best

assist firms in adapting to the effects of climate change. as the financial sector is dominated by the banks, climate change may result in physical and transition risks that could affect the safety and soundness of individual banking institutions, and have broader financial stability implications for the banking system. banks are potentially exposed to climate - related financial risks regardless of their size, complexity or business model. to the central banks, regulatory authorities, financial institutions and other policymakers, has emerged the needs to take actions in response to those challenges. central bank of the republic of kosovo is committed to strengthening its efforts to improve the resilience of the financial system to climate - related and environmental risks. to address climate - related financial risks within the banking sector, the central bank of the republic of kosovo supported by the program of world bank / finsac has drafted a strategy and established a cross - sectorial working group to contribute to strengthen the regulation, supervision and practices of banks. actions by the central bank of the republic of kosovo to address climate and environmental risk will be toward strengthening regulatory framework toward eu regulations and directives, and basel standards, strengthening supervisory practices, encompassing the assessment and full understanding of the banks'exposure to climate risks using scenario analysis, and where applicable, stress testing. central bank of the republic of kosovo will work on building internal capacities, increasing the cooperation with domestic institutions, responsible for climate change mitigation and adaption, considering the international commitments of the republic of kosovo. to help the contribute to this direction, financial literacy and broader communication through participating in international conferences – like this today – workshops, forums for broadening the expertise and knowledge in the area of climate risks, is part of the cbk strategic plan. addressing the esg aspects, has multiple benefits for the entire economy and contributes substantially to reducing or preventing the adverse impact of the current or expected future climate risks, promote foreign investment opportunities, attract new investments and financing and shift the current credit exposures from the traditional sectors toward green and sustainable financing. i wish for fruitful discussions, during the three panels of such very interesting topic, and enjoy the stay in prishtina. 2 / 3 bis - central bankers'speeches thank you! 3 / 3 bis - central bankers'speeches