The Trade and Development Bank (TDB) has successfully obtained $10 million in green financing from the International Bank for Economic Cooperation (IBEC) to support the implementation of its Green Loan Program (2021-2026) developed under the “Climate 30+ Sustainable Financing Initiative.” This collaboration aims to introduce and expand green business models in Mongolia.
TDB’s Green Loan Program aligns with Mongolia’s development and climate policies, including “Vision 2050,” the “Green Development Policy,” and the nationally determined contributions (NDCs) under the Paris Agreement. It also adheres to the country’s Green Taxonomy. Furthermore, the program complements IBEC’s strategic goals of promoting sustainable development, increasing green investments, supporting small and medium-sized enterprises (SMEs), and fostering social equity.
This affordable financing initiative will provide critical support to green organizations, especially during the COVID-19 pandemic. The program is expected to yield tangible results, such as promoting environmentally friendly business models and operations, improving energy, water, and resource efficiency, advancing electric and clean transportation, reducing air pollution and greenhouse gas emissions, and creating jobs. Additionally, it will contribute to broader sustainable development goals with lasting impacts.
Statements from Leaders
Denis Ivanov, Chairman of the IBEC Management Board, noted:
“We see TDB’s Green Loan Program not only as a successful implementation of green projects but also as a model for other countries and financial institutions to emulate. IBEC is committed to continuing its support for projects with significant social and environmental value.”
D. Erdenebileg, Chairman of the TDB Board, expressed gratitude, saying:
“We are deeply thankful to partner with a leading international financial institution like IBEC to implement our Green Loan Program. This program is part of TDB’s pioneering private sector initiative, ‘Climate 30+.’ It will play a crucial role in fostering a post-COVID-19 economic recovery that is low-carbon and resilient. Our collaboration will unlock numerous opportunities to prepare businesses for the green economy, establish environmentally friendly and responsible business practices, and promote positive attitudes and innovative models.”
TOGETHER TOWARDS SUSTAINABILITY