WBG support Golomt Bank to pilot blue finance, promote Green projects and SMEs
WBG support Golomt Bank to pilot blue finance, promote Green projects and SMEs.
In support of water management, energy efficiency, small and medium-sized enterprises (SMEs), and women-led businesses, Golomt Bank will receive a $160 million financing package led by IFC - International Finance Corporation, a member of the World Bank (WBG) supporting the private sector, with co-financing from Proparco, private sector finance financing arm of the group Agence Française de Développement (AFD). The initiative marks Mongolia’s first-ever blue finance transaction. This cooperation strengthens partnership between Mongolia’s finance sector with international institutional investors, while promoting environmental sustainability and social development.
This initiative supports and aligns with Golomt Bank’s medium-term targets to reduce its climate impact by 30 percent and its impact on water resources by 5 percent by 2030, as well as its long-term sustainability goals.
Source: https://www.golomtbank.com/en/news/50287