On February 28, 2022, the Trade and Development Bank (TDB) signed a memorandum of understanding with Shambala Engineering Campus LLC to support the “Shambala 2056” engineering campus initiative. This partnership reflects TDB’s commitment to its medium-term strategy, which aligns with the United Nations Sustainable Development Goal (SDG) of “Mitigating the impacts of climate change.”
Shambala Engineering Campus LLC focuses on addressing desertification in Mongolia’s most affected areas. Its efforts include reforesting degraded land with tree species tailored to local environmental conditions, preventing land degradation, developing renewable energy infrastructure, and advancing domestic technological innovation. By 2021, the company had planted 24,000 trees on a 4-hectare site in Erdene soum, Dornogovi province. In 2022, it aims to plant an additional 10,000 trees. Notably, the company distinguishes itself by assuming full responsibility for watering and maintaining each planted tree for five years, ensuring long-term sustainability.
Through this memorandum, TDB commits to delivering timely products, services, and payment solutions to Shambala Engineering Campus LLC and its clients. The agreement also establishes a framework for collaboration on green projects and initiatives, creating opportunities to jointly combat climate change and reduce greenhouse gas emissions.
This memorandum lays the foundation for continued cooperative efforts to address climate change and advance sustainable development.