Ulaanbaatar /MONTSAME/ The Mongolian Bankers Association (MBA) is organizing the Mongolian Sustainable Finance Forum 2017 under the theme 'Fostering Partnerships to Scale Up Sustainable Finance' at Shangri-La Hotel, on September 14.
The forum is being organized in cooperation with the Ministry of Environment and Tourism, the Arig Bank, the International Finance Corporation, Global Green Growth Institute, the Ministry of Finance, the Bank of Mongolia, the Financial Regulatory Commission, Ulaanbaatar City Governor’s Office and the Mongolian National Chamber of Commerce and Industry (MNCCI).
During the panel discussion, the MBA announced that a Memorandum of Understanding was signed among the Ministry of Environment and Tourism, Ministry of Finance, Mongolian Bankers Association and Global Green Growth Institute on establishing the Green Credit Fund with an aim to maximize financing with preferential conditions to the financial market, to reduce interest rate and to develop green investment methods.
The MoU also aims to efficiently use natural resources, to reduce air, environmental pollutions and greenhouse gas emission, as well as to boost environmentally friendly economic development.
The panel speakers expressed their views on Green Credit Fund’s role in help financing the implementation of Mongolia Sustainable Development Vision - 2030, Green Development Policy, Mongolia’s contribution in the Paris Agreement and principles of sustainable financing.
A working group will be assigned for preparation of the establishment of Green Credit Fund.