Ulaanbaatar
Agreement on financial package of USD25 million signed
Economy
Ulaanbaatar/MONTSAME/. The EBRD organized a financial
package of USD25 million to XacBank, the country’s most active creditor of
green economy projects.
The package consists of an EBRD loan of up to USD 18.75
million and concessional financing of up to USD 6.25 million provided by the
Green Climate Fund (GCF). It will help support domestic individuals and
businesses willing to invest in climate mitigation and adaptation technologies
and services. Beneficiaries can identify climate-friendly technologies with the
help of the Green Technology Selector and dedicated technical support is
available through a consultancy team funded by the GCF and Japan.
This is the latest project in Mongolia under the Green
Economy Financing Facility (GEFF) programme. XacBank, the
sustainability-award-winning financial institution and the first financial
institution to join GEFF in Mongolia, will benefit from the EBRD’s experience
in energy and resource efficiency and climate resilience financing.
Source: EBRD in Mongolia
