Country
Mongolia
Local project partner
Mongolian Mortgage Corporation (MlK), Bank of Mongolia (BoM)
German project partner
LBS NordOst
Donor
Bundesministerium für wirtschaftliche Zusammenarbeit und Entwicklung (BMZ)
Duration
01.01.2025 - 31.12.2027
In Mongolia, residential buildings and the heating of buildings and yurts account for about 80% of CO₂ emissions. The project creates sustainable access to financial services for low-income households, enabling them to invest in environmentally improved housing and living conditions. At the same time, it strengthens the Mongolian financial sector through the central bank in the areas of sustainable finance, ESG risk management, green finance, and climate-resilient financing. In addition, long-term savings and private-sector initiatives are promoted.
The overarching objective is to support and accompany the socio-ecological transformation of the financial sector so that living and working conditions in Mongolia are holistically improved and strengthened. This includes reducing structural inequalities and unequal treatment, achieving equal opportunities for all people, overcoming gender stereotypes, and empowering women and girls in Mongolia through improved framework conditions.
Tasks
To achieve these objectives, the following measures, in particular, will be implemented:
- Conducting studies on savings behavior and housing needs, as well as developing a concept for integrating the concept of building savings into the Mongolian financial sector
- Providing consulting services and conducting training sessions for the Mongolian Central Bank in the areas of sustainable finance, ESG risk management, and net-zero strategy
- Selecting and advising Mongolian commercial banks in the area of sustainable finance
- Developing financial literacy initiatives aimed at promoting long-term savings
- Developing approaches to foster collaboration between German and local companies, particularly with regard to energy-efficient construction projects
