ADB to receive Green Climate Fund financing to combat
climate change

The American Chamber of Commerce in Mongolia

2018-03-12 13:29 GMT+8

Asian Development Bank (ADB) has announced that it will be receiving financing of 190 million USD from the United Nations' Green Climate Fund to implement projects and programs combating climate change in Mongolia, Cambodia, and Tajikistan.

Grants totaling 85 million USD will be disbursed by ADB  and 105 million USD will be issued as loans. ADB has said that it plans to increase the financing of projects and programs within the Asia-Pacific region, with a goal of providing six trillion USD per year by 2020.

In addition to 399 million USD received from ADB and other sources, Mongolia will receive another 50 million USD from the Green Climate Fund in the form of a grant and a 95 million USD loan. These funds will be used to turn 100 hectares in the ger district into a green zone and the construction of 10,000 green apartments in UB.

In 2017, ADB allocated 4.5 billion USD in financing to efforts to combat climate change.   

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