ADB, Golomt Bank Partner to Expand Sustainable and Inclusive Finance in Mongolia
Mongolia, July 2 -- The Asian Development Bank (ADB) and Golomt Bank Joint Stock Company (Golomt Bank) have signed a $64 million loan agreement to support sustainable finance and expand lending to micro, small, and medium-sized enterprises (MSMEs), including women-owned businesses in Mongolia.The financing includes $60 million from ADB's ordinary capital resources and $4 million in concessional resources from the Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA). Mongolia faces severe environmental challenges, including frequent shocks caused by extreme weather events. Despite progress in establishing sustainable finance frameworks, substantial financing gaps persist in key sectors such as energy, agriculture, forestry...
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