EBRD offers €24.6m loan to decarbonise Mongolia’s construction sector

The European Bank for Reconstruction and Development (EBRD) is financing the refurbishment of the headquarters of Shunkhlai Holding in Ulaanbaatar, a move aimed to help decarbonise Mongolia’s construction sector.

Under the EBRD loan of up to MNT 90 billion (equivalent to €24.6 million), the Shunkhlai Holding will convert a former cashmere processing factory into Shunkhlai Plaza, a modern six-storey office building with catering and commercial facilities.

Shunkhlai Plaza aims to achieve a “Silver” rating under the Leadership in Energy and Environmental Design (LEED) certification by reducing energy consumption by at least 30 per cent and water use by a minimum of 20 per cent. This project sets a new benchmark for green office buildings in Mongolia.

The loan is supported by the EBRD’s Finance and Technology Transfer Centre for Climate Change (FINTECC), which provides up to €93,000 in concessional financing for modern building management systems, including new air conditioning and LED lighting.

This initiative aligns with the EBRD’s strategy to develop green and sustainable buildings and promote urban regeneration. To date, the EBRD has invested €2.4 billion in Mongolia through 147 projects, with nearly 90 per cent of funds supporting private-sector companies.

Attribution: EBRD

Subediting: Y.Yasser