ULAN BATOR, July 3 (Xinhua) -- The Asian Development Bank (ADB) and Mongolia's Golomt Bank JSC on Thursday signed a 64-million-U.S.-dollar loan agreement to support sustainable finance and expand lending to micro, small and medium-sized enterprises (MSMEs), including women-owned businesses in Mongolia.
The financing includes 60 million dollars from ADB's ordinary capital resources and 4 million dollars in concessional resources from the Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA).
"This project underscores ADB's commitment to advancing sustainable growth and financial inclusion in Mongolia," said Chandra Mohan Arora, ADB country operations head for Mongolia. "By partnering with Golomt Bank, we aim to make financial services more accessible, improve productivity, increase income, and contribute to economic diversification."
Mongolia faces significant environmental challenges, including frequent shocks from extreme weather events. Despite progress in developing sustainable finance frameworks, financing gaps remain in key sectors such as energy, agriculture, forestry and water, which are critical for reducing emissions and strengthening resilience, according to the ADB.
The project will support investments in priority sectors, including energy efficiency in industry and housing, eco-tourism and waste management, contributing to Mongolia's transition toward a more environmentally sustainable economy. It will also expand access to finance for underserved groups, strengthen institutional capacity and support women entrepreneurs, including workplace protection initiatives for women and girls, the bank said.
Golomt Bank, Mongolia's second-largest bank, operates nationwide with a network of 108 branches and serves a diverse client base across corporate, retail, SME, and MSME segments. The bank is strongly committed to sustainable finance, holding approximately 20 percent market share of the country's green finance market at the end of 2025. ■
