In a significant move to expand the scope of sustainable financing in Mongolia, Trade and Development Bank (TDB) and the Global Green Growth Institute (GGGI) have signed a memorandum of understanding. This partnership will focus on increasing sustainable financing and accelerating the green transition, including updating TDB’s “Sustainable Financing Framework.”
During the signing ceremony, Ms. Annaka Peterson, GGGI's Country Representative for Mongolia, emphasized: “Leading the green transition and combating climate change requires collective effort from individuals and organizations. This year, the dzud phenomenon in Mongolia has underscored the urgent need for climate action.”
Mr. O. Orkhon, CEO of TDB, stated: “TDB is committed to reducing carbon emissions in Mongolia and supporting environmentally friendly business models. By collaborating with GGGI, we aim to successfully attract sustainable financing from international markets in the coming years, providing the essential green investments our country needs.”
About the Global Green Growth Institute (GGGI)
Established in 2012 during the United Nations Conference on Sustainable Development, GGGI is a treaty-based international intergovernmental organization. It supports member countries in meeting their Paris Agreement commitments and achieving the Sustainable Development Goals. GGGI helps countries transition to green growth models that address poverty reduction, social inclusion, environmental sustainability, and economic growth simultaneously. Its initiatives include innovative solutions for green development, technical support, capacity building, policy implementation, green project financing, and knowledge sharing. Currently, GGGI operates projects and programs in over 40 countries, with the collaboration of 48 member states and 22 partner organizations.
About Trade and Development Bank (TDB)
Established in 1990, TDB has grown to become a leader in Mongolia's banking and financial sector. The bank actively promotes sustainable financing and supports its clients' green transition efforts. As Mongolia’s oldest bank, TDB provides over 130 internationally compliant banking products and services. It serves as the primary financier for leading domestic and international organizations across various industries.
Under its goal to become a “Green Bank,” TDB is focused on mobilizing international resources, empowering clients, expanding businesses, building a sustainable financial ecosystem, and diversifying sustainable products and services.
TOGETHER TOWARDS SUSTAINABILITY