Улаанбаатар
Golomt Bank presents its Sustainable Development Report
Economy
Ulaanbaatar /MONTSAME/. Golomt Bank, one of Mongolia’s largest commercial banks, has been implementing ‘Sustainable Finance Policy’ since 2015, and in 2019, the policy was changed to the “Sustainable Development Policy” to implement the Sustainable Development Goals, which cover all levels of the bank’s operations, not just financing.
The bank has presented its Sustainable Development Report, which outlined the results of important works to modernize its business and internal operations in the field of sustainable development in 2020.
The report includes Golomt Bank’s support for environmentally friendly business, social responsibility, education and health, cultural heritage protection, Green Loans, Gender Equality, and the satisfaction of customers and their safety, and the employees’ satisfaction.
Some of the key figures in the report include:
Within the framework of sustainable financing:
• In 2020, a total of MNT 57.5 billion in sustainable financing loans were disbursed to 55 enterprises, created a total of more than 400 new jobs and saved 706 jobs. During the Covid-19 pandemic that lasted through 2020, Golomt Bank supported the local economy by providing project loans to support SME, start-ups.
Within the framework of the two-phase loan project “Development of SME and environmental protection”, 800 million MNT was invested in the private health sector in the region, which created the following positive social impact. These include:
• Population disease prevention;
• Maternal and child health protection;
• Reducing the risk of common communicable and non-communicable diseases;
• Improving the quality and access to basic social services;
• Commissioning of a hospital building that meets international standards in order to provide standard services and treatment to local communities;
• Increase employment.
Green loan:
As of the 3rd quarter of 2020, the total amount of Golomt Bank’s green loan portfolio was 192,685.9 million MNT, which is 6.4% of the total portfolio. As of the third quarter of 2018, the green loan portfolio accounted for 1.74% of the total loan portfolio, while in 2019 and 2020, the bank was able to increase the portfolio size by 5% by supporting customers’ green projects and programs.
Golomt Bank’s Sustainable Development Report 2020 is available here.
