Mongolia secures $100-m loan for climate action

The Asian Development Bank (ADB) has approved a $100 million policy-based loan to support Mongolia’s climate goals, including its Nationally Determined Contribution (NDC) and National Adaptation Plan (NAP).

The funding aims to promote low-carbon, inclusive, and resilient economic growth through gender-responsive climate actions.

The Accelerating Climate Investment Programme (Subprogram 1) will focus on renewable energy, energy efficiency in buildings, and climate-resilient agriculture. It also seeks to enhance climate finance by issuing green bonds and expanding green loan portfolios in the banking sector.

Mongolia’s traditional nomadic herding lifestyle is under threat due to rising temperatures and extreme weather events, like dzuds, which have caused high livestock mortality. Women and vulnerable communities are disproportionately affected.

ADB, established in 1966, continues to drive sustainable development in Asia and the Pacific, with a focus on eradicating extreme poverty.