Trade and Development Bank of Mongolia Sets Long-Term Goal to Provide Sustainable Financing of USD 2 Billion to Clients by 2030

Ulaanbaatar, October 25, 2024 /MONTSAME/. United Nations Day 2024 was successfully organized on October 24, 2024, highlighting key initiatives and fostering international collaboration between relevant stakeholders towards sustainable development.

Trade and Development Bank of Mongolia (TDB) is and has been the pioneering bank in ESG management system, integrating UN’s Sustainable Development Goals (SDGs) into its banking operations and facilitating sustainable financing in Mongolia. As the Green Climate Fund (GCF) Accredited entity since 2020, TDB has been initiating actions to align its strategies with the SDGs focusing on the following four goals: SDG #4 Quality education, SDG #5 Gender quality, SDG #8 Decent work and economic growth and SDG #13 Climate change. 

From TDB, Ms. Sergelen Nyamdorj, Deputy Chief Executive Officer for International Business Development, participated in the panel discussion of the event today, which was held under the topic of “Partnering with the private sector for sustainable and inclusive development”. Ms. Sergelen N. highlighted TDB’s most recent operations towards sustainable development and green financing. 

That is, she said that TDB has set a long-term goal to provide sustainable financing worth of USD 2 billion to clients by 2030. Within the framework of this goal, just recently, in October 2024, we have received our first milestone funding from the U.S. Government Agency - Development Finance Corporation (DFC) – for supporting SMEs, women-led/-owned SMEs as well as green businesses in Mongolia. As a leading corporate bank, we are also expanding our SME market share to promote economic diversification and job creation in the country. 

Ms. Sergelen N. also mentioned about TDB’s ongoing cooperation with the German Association for International Cooperation (GIZ) on the "Sustainable Ideas for Mongolia - green and social SME Financing in Mongolia" project. Within this joint project, the capacity of SMEs will be improved to their better access to financial inclusion and sustainable financing, while the Bank’s staff will be trained to improve SME lending process and customer relations.  

TDB’s Deputy Chief Executive Officer for International Business Development also emphasized that the Bank also established a strategic partnership with the Global Green Growth Institute (GGGI) to accelerate sustainable and low-carbon economic growth in the country. In cooperation with the GGGI, TDB is actively organizing, on the one hand, knowledge-sharing sessions for its SME clients on opportunities of greening their business activities, and on the other hand, capacity-building trainings for Bank’s staff to recognize and assess potential green projects as well as to conduct monitoring, reporting, and verifications (MRV) on them.