Contact
PKF-IFS Mongolia

News

Home News AGREEMENT ON FINANCIAL PACKAGE OF USD25 MILLION SIGNED

AGREEMENT ON FINANCIAL PACKAGE OF USD25 MILLION SIGNED

Ulaanbaatar/MONTSAME/. The EBRD organized a financial package of USD25 million to XacBank, the country’s most active creditor of green economy projects.

 

The package consists of an EBRD loan of up to USD 18.75 million and concessional financing of up to USD 6.25 million provided by the Green Climate Fund (GCF). It will help support domestic individuals and businesses willing to invest in climate mitigation and adaptation technologies and services. Beneficiaries can identify climate-friendly technologies with the help of the Green Technology Selector and dedicated technical support is available through a consultancy team funded by the GCF and Japan.

 

This is the latest project in Mongolia under the Green Economy Financing Facility (GEFF) programme. XacBank, the sustainability-award-winning financial institution and the first financial institution to join GEFF in Mongolia, will benefit from the EBRD’s experience in energy and resource efficiency and climate resilience financing.

 

Source: https://montsame.mn/en/read/303995 

PKF-IFS Mongolia is a member of PKF Global, the network of member firms of PKF International Limited, each of which is a separate and independent legal entity and does not accept any responsibility or liability for the actions or inactions of any individual member or correspondent firm(s).

“PKF" and the PKF logo are registered trademarks used by PKF International Limited and member firms of the PKF Global Network. They may not be used by anyone other than a duly licensed member firm of the Network.