IFC to expand its work on green finance to help tackle existing environmental stresses

2019-09-20 14:31:49

Ulaanbaatar/MONTSAME/. Ms.Nena Stoiljkovic, IFC’s Vice President for Asia and the Pacific paid an official visit to Mongolia on September 16-17 to meet Mongolia’s government officials, representatives from financial institutions, and business leaders and visit projects supported by IFC.

After her first country visit, Ms. Nena Stoiljkovic made a statement that reads, “Let me express my profound gratitude to the people and government of Mongolia for their gracious hospitality during my very first visit to this country.

It’s a privilege to see firsthand the work that IFC has done in the country and more importantly, the promise and potential of the partnership between IFC and Mongolia. As the largest development organization in the world working with the private sector in emerging markets, IFC welcomes the ongoing opportunities to increase our investments and advisory work in Mongolia.

We know the private sector is fundamental to driving economic growth and creating jobs in Mongolia.

Already, over the course of more than two decades, IFC has invested about $2.6 billion across 35 private-sector projects in Mongolia. This involves $849 million from IFC’s own account and $1.77 billion in syndication, and touches many of Mongolia’s key industries: mining, banking, microfinance, hospitality, and services.

After my meetings with the government and private sector leaders, I believe IFC can substantially increase its investments and programs in Mongolia if the conditions are right.

We can help Mongolia reach its goal of becoming a leading middle -income country by 2030.

IFC will be expanding its work on green finance to help tackle existing environmental stresses in Mongolia, and the risks and vulnerabilities of the natural disasters which this country faces.

And while Mongolia’s growth momentum is expected to continue in the medium term, more needs to be done to help diversify the country’s economy. That is why IFC is focusing on helping Mongolian enterprises increase their competitiveness and improve access to finance for the country’s micro, small and medium-sized enterprises that are so vital for job creation. IFC will continue exploring new opportunities to boost support for micro, small and medium-sized enterprises as engines for growth, innovation and jobs.”