On October 19, 2022, Khan Bank signed a 70 million USD financing package with the European Bank for Reconstruction and Development (EBRD). The package consists of green financing facility of up to 60 million USD under the Green Economy Financing Facility, Mongolia, of which up to USD 45 million to be provided by the EBRD and up to USD 15 million by the Green Climate Fund. An additional dedicated financing of up to 10 million USD will be provided under the Women in Business (WiB) program.
Since 2006, Khan Bank has been financing green projects and activities through its wide range of business and consumer green loans, promoting environmentally and socially-friendly businesses that create energy efficiency and reduce greenhouse gas emissions. We are grateful to be able to continue offering green loans to our customers at favorable terms with this financing, contributing to the fight against climate change.
Khan Bank integrated the 17 Sustainable Development Goals (SDGs) into its operations in 2018 and adopted its Sustainable Development Policy in 2020. Within the framework of the fifth goal, Gender Equality, Khan Bank has been supporting women through various projects and programs. As of 2021, 400 women entrepreneurs have received capacity-building training, networking services, and business consulting services from Khan Bank. We are pleased that WiB program funding will provide us with an opportunity to further promote women-led businesses, improving their access to financial services.
Munkhtuya R., CEO of Khan Bank, highlighted, “Khan Bank has been actively cooperating with the EBRD since 2007. The EBRD supports the Mongolian economy by providing financing for micro, SME, and green business activities and provides risk-sharing programs and trade finance facilities. Within this facility agreement, the EBRD will provide not only a financing but also comprehensive technical assistance and advisory services for capacity-building, project appraisal support for green lending, and tailored capacity-building for developing women-oriented financial products and lending practices that meet the needs of women-led businesses in Mongolia.”
About Khan Bank
Khan Bank has been providing all types of banking products and services to 82 percent of the population or about 2.7 million customers through its digital channels and 547 branches nationwide. Khan Bank supports MSMEs, which are the key drivers of the country’s economic growth, by offering business loan products and non-financial services such as customer training and advisory and consulting services through its Business Support Centers. In the last decade, Khan Bank has been actively implementing projects in line with sustainable development initiatives, aiming to be more green, and offering environmentally-responsible products and services. Click HERE for Khan Bank’s Sustainable Development Reports.
About European Bank for Reconstruction and Development
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 36 economies across three continents. The Bank is owned by 71 countries as well as the European Union and the European Investment Bank. EBRD investments are aimed at making the economies in its regions competitive, inclusive, well-governed, green, resilient and integrated. To date, the EBRD has invested 2.28 billion EUR through 123 projects in Mongolia’s economy.
About Global Climate Fund
GCF was established under the Cancún Agreements in 2010 as a dedicated financing vehicle for developing countries within the global climate architecture, serving the Financial Mechanism of the UNFCCC and the Paris Agreement. GCF funded its first project in 2015, and since then, has invested over 10.7 billion USD in 200 projects to avoid an anticipated 2.3 billion tons of greenhouse emissions. As for Mongolia, it has invested more than 430 million USD in 10 projects. For more information, please visit Green Climate Fund.
On October 19, 2022, Khan Bank signed a 70 million USD financing package with the European Bank for Reconstruction and Development (EBRD). The package consists of green financing facility of up to 60 million USD under the Green Economy Financing Facility, Mongolia, of which up to USD 45 million to be provided by the EBRD and up to USD 15 million by the Green Climate Fund. An additional dedicated financing of up to 10 million USD will be provided under the Women in Business (WiB) program.
Since 2006, Khan Bank has been financing green projects and activities through its wide range of business and consumer green loans, promoting environmentally and socially-friendly businesses that create energy efficiency and reduce greenhouse gas emissions. We are grateful to be able to continue offering green loans to our customers at favorable terms with this financing, contributing to the fight against climate change.
Khan Bank integrated the 17 Sustainable Development Goals (SDGs) into its operations in 2018 and adopted its Sustainable Development Policy in 2020. Within the framework of the fifth goal, Gender Equality, Khan Bank has been supporting women through various projects and programs. As of 2021, 400 women entrepreneurs have received capacity-building training, networking services, and business consulting services from Khan Bank. We are pleased that WiB program funding will provide us with an opportunity to further promote women-led businesses, improving their access to financial services.
Munkhtuya R., CEO of Khan Bank, highlighted, “Khan Bank has been actively cooperating with the EBRD since 2007. The EBRD supports the Mongolian economy by providing financing for micro, SME, and green business activities and provides risk-sharing programs and trade finance facilities. Within this facility agreement, the EBRD will provide not only a financing but also comprehensive technical assistance and advisory services for capacity-building, project appraisal support for green lending, and tailored capacity-building for developing women-oriented financial products and lending practices that meet the needs of women-led businesses in Mongolia.”
About Khan Bank
Khan Bank has been providing all types of banking products and services to 82 percent of the population or about 2.7 million customers through its digital channels and 547 branches nationwide. Khan Bank supports MSMEs, which are the key drivers of the country’s economic growth, by offering business loan products and non-financial services such as customer training and advisory and consulting services through its Business Support Centers. In the last decade, Khan Bank has been actively implementing projects in line with sustainable development initiatives, aiming to be more green, and offering environmentally-responsible products and services. Click HERE for Khan Bank’s Sustainable Development Reports.
About European Bank for Reconstruction and Development
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 36 economies across three continents. The Bank is owned by 71 countries as well as the European Union and the European Investment Bank. EBRD investments are aimed at making the economies in its regions competitive, inclusive, well-governed, green, resilient and integrated. To date, the EBRD has invested 2.28 billion EUR through 123 projects in Mongolia’s economy.
About Global Climate Fund
GCF was established under the Cancún Agreements in 2010 as a dedicated financing vehicle for developing countries within the global climate architecture, serving the Financial Mechanism of the UNFCCC and the Paris Agreement. GCF funded its first project in 2015, and since then, has invested over 10.7 billion USD in 200 projects to avoid an anticipated 2.3 billion tons of greenhouse emissions. As for Mongolia, it has invested more than 430 million USD in 10 projects. For more information, please visit Green Climate Fund.