Support to boost climate adaptation and women-led businesses through Mongolia’s largest lender
The European Bank for Reconstruction and Development (EBRD) is arranging a financing package of up to US$145 million (€140 million) for Khan Bank, Mongolia’s largest commercial lender. This marks the EBRD’s largest bilateral transaction with a Mongolian financial institution to date.
The financing aims to promote the adoption of climate adaptation technologies and enhance resource efficiency, while also expanding economic opportunities for small and medium-sized enterprises (SMEs) owned or led by women.
The package includes two key components:
- A senior loan of up to US$75 million (€72.4 million) under the EBRD’s Green Economy Financing Facility (GEFF), co-financed with up to US$60 million (€57.9 million) from the EBRD and US$15 million (€14.5 million) from the Green Climate Fund (GCF). This loan will facilitate access to green technologies for Mongolian households and SMEs and will be complemented by grant support from the GCF and Japan.
- A separate senior loan of up to US$70 million (€67.6 million) under the EBRD’s Central Asian Women in Business programme, aimed at advancing women’s entrepreneurship through improved access to finance and advisory services.
Khan Bank, a long-standing partner of the EBRD, provides financial services to over 82 per cent of Mongolia’s population through its 545-branch network and digital platforms.
To date, the EBRD has invested nearly €2.6 billion in Mongolia through 154 projects, with around 90 per cent of those funds supporting the private sector.
