(Ulaanbaatar) Dec 16, by the initiation of the Mongolian Bankers Association and support of the Ministry of Environment, Green Development and Tourism, FMO and IFC, Mongolian Sustainable Finance Forum 2014 was held today at Tuushin Hotel.
During this forum Mongolian Sustainable Finance Collaboration MOU was signed by Minister of Environment, Green Development and Tourism Ms D.Oyunkhorol, Mr Javkhlan, Deputy Governor of Bank of Mongolia, M.Bold, President of the Mongolian Bankers Association and S. Ochirbat, Vice Mayor of UB city.
This MOU secures the Sustainable Financing tools by the Mongolian banks with the support of the international financing organizations.
In recognition that banks and other financial institutions play a critical tole in the economic development of Mongolia, these institutions have unanimously committed to integrate environmental and social considerations into their banking practices.
The working group has formulated the Sustainable Finance Principles and sector guidelines for mining, agriculture, construction and manufacturing, reflecting on the pressing environmental and social issues faced currently. The Mongolian Sustainable Finance Principle will be implemented by all Mongolian banks starting the first quarter of 2015.
The collaboration provisions outcomes at the national, sectoral and social levels. Mongolia would become an exemplary naiton of sustainable development, where the issues related to water and health, sustainable energy, sustainable agriculture, environment, biodiversity and ecosystems are well-managed; financing mechanisms to be designed for resolving poverty and environmental degradation issues; pro-green development systems to be in place; and where the economy, environment and society to be well-balanced.
(Ulaanbaatar) Dec 16, by the initiation of the Mongolian Bankers Association and support of the Ministry of Environment, Green Development and Tourism, FMO and IFC, Mongolian Sustainable Finance Forum 2014 was held today at Tuushin Hotel.
During this forum Mongolian Sustainable Finance Collaboration MOU was signed by Minister of Environment, Green Development and Tourism Ms D.Oyunkhorol, Mr Javkhlan, Deputy Governor of Bank of Mongolia, M.Bold, President of the Mongolian Bankers Association and S. Ochirbat, Vice Mayor of UB city.
This MOU secures the Sustainable Financing tools by the Mongolian banks with the support of the international financing organizations.
In recognition that banks and other financial institutions play a critical tole in the economic development of Mongolia, these institutions have unanimously committed to integrate environmental and social considerations into their banking practices.
The working group has formulated the Sustainable Finance Principles and sector guidelines for mining, agriculture, construction and manufacturing, reflecting on the pressing environmental and social issues faced currently. The Mongolian Sustainable Finance Principle will be implemented by all Mongolian banks starting the first quarter of 2015.
The collaboration provisions outcomes at the national, sectoral and social levels. Mongolia would become an exemplary naiton of sustainable development, where the issues related to water and health, sustainable energy, sustainable agriculture, environment, biodiversity and ecosystems are well-managed; financing mechanisms to be designed for resolving poverty and environmental degradation issues; pro-green development systems to be in place; and where the economy, environment and society to be well-balanced.