The Trade and Development Bank (TDB) successfully signed a $15 million long-term financing agreement with the International Investment Bank (IIB) under its sustainable financing program. This financing will support enterprises implementing environmentally friendly projects that mitigate climate change and reduce greenhouse gas emissions. It will also offer preferential financing to businesses led by women or with a predominantly female workforce, contributing significantly to the country’s economic recovery.
TDB’s sustainable financing program plays a crucial role in advancing the implementation of the UN Sustainable Development Goals (SDGs) in Mongolia. The program aligns closely with Mongolia’s national "Green Taxonomy," which defines activities classified as “green,” establishes requirements and indicators, and provides methods for evaluating and measuring such initiatives.
As TDB celebrates its rich history of over six decades with the motto “Together for Development,” it has refreshed its long-term strategy with a renewed vision, “Together for Sustainable Development.” The bank has integrated the following key SDGs into its strategy and is committed to advancing these goals:
- SDG 4: Ensure inclusive and equitable quality education;
- SDG 5: Achieve gender equality and empower all women and girls;
- SDG 8: Promote sustained, inclusive, and sustainable economic growth;
- SDG 13: Take urgent action to combat climate change and its impacts.
Statements from Leaders
Georgy Potapov, Deputy Chair of the Board for Lending and Investment at IIB, remarked:
“This agreement with TDB is a shining example of our efforts to support sustainable development in our member countries. TDB’s mission aligns with IIB’s goals, and we are committed to financing projects like these that maximize economic impact in our member states.”
Randolph S. Koppa, Deputy Chairman of the TDB Board, added:
“We are delighted to partner with IIB, our longstanding partner, to implement this sustainable financing program aimed at promoting green business and ensuring gender equality. Through this initiative, TDB will achieve its long-term goal of becoming a leading green bank while making a substantial contribution to Mongolia’s sustainable development and inclusive economic recovery.”
About the International Investment Bank (IIB)
Established in 1970, IIB operates as an international organization based on intergovernmental agreements among its member countries. Beyond Mongolia, its members include Bulgaria, Cuba, the Czech Republic, Hungary, Romania, Russia, Slovakia, and Vietnam. The bank’s initiatives are dedicated to supporting the economic development of its member states. Since establishing a correspondent relationship with TDB in 2005, IIB and TDB have expanded their cooperation across Mongolia’s securities market, trade financing, and sustainable financing sectors.
About TDB
As Mongolia’s oldest commercial bank, TDB has adopted the motto “Together for Sustainable Development” and committed to providing $2 billion in sustainable financing by 2030 and achieving carbon neutrality by 2050. The bank is an accredited entity of the Green Climate Fund and currently offers over 150 financial services through its digital banking platform and more than 90 branches and service centers.