Agreement on financial package of USD25 million signedEconomy
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