Mongolian Trade Development Bank will attract long-term financing from the Korea Development Bank
Ulaanbaatar, 29 September - GuarantCo, established by the governments of seven European countries, recently provided a 100% payment guarantee for five years to the Mongolian Trade Development Bank. According to this payment guarantee, the Mongolian Trade Development Bank will sign an agreement to receive long-term financing from the Korea Development Bank.
The Mongolian government and regulatory authorities attach great importance to the development of sustainable finance and are implementing policy documents such as the "National Sustainable Finance Roadmap 2028" and the "Green Classification." However, about 11.5 billion USD in financing is still needed to achieve the goal of reducing greenhouse gas emissions by 2030.
By signing this agreement, the Trade Development Bank, a leading institution in the field of sustainable finance, will have the opportunity to provide low-cost loans for green and social projects such as renewable energy, green buildings, sustainable agriculture, and waste management.
This will make an important contribution to expanding the bank's sustainable investment portfolio, adding new sources of funding, and accelerating regional sustainable development. The Trade Development Bank is confident that within the framework of this long-term financing agreement, it will have a positive impact on Mongolia's economy, revitalizing the economy by supporting businesses and consumers, thereby creating new jobs in multiple fields.
Original article: www.toutiao.com/article/1844587325336778/
Statement: This article represents the views of the author(s) alone.