Cabinet sets up Green Development Fund

2017-10-04 08:59:37
Ulaanbaatar /MONTSAME/ The Cabinet Tuesday assigned the Development Bank of Mongolia to establish a private investment fund titled Green Development Fund of Mongolia.

The Green Development Fund will aim to reduce environmental pollution, introduce a pro-green economy financial system and increase investment supporting environmental conservation and clean technology.

In compliance with the Cabinet’s Resolution No.27 issued in 2014, MNT 92.2 billion fund currently kept by the National Investment Bank /from long-term loans issued in scope of programs—‘4000 Apartments for Public Servants’ and ‘100 thousand Apartment’/ will be transferred as investment to the Green Development Fund. The National Investment Bank will continue to make the repayment of the loan.

Engagement of governmental and private sectors within the Green Development Fund will be balanced and the fund will seek investment from national and international organizations. The Green Development Fund will be a professional and independent body monitored by internal institutions.
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