25 November | Ulaanbaatar, Mongolia

On 25 November in Ulaanbaatar, Mongolia, the Mongolian Sustainable Finance Forum 2015, organised by UNEP FI and Partnership for Action on Green Economy (PAGE) with the Mongolian Bankers Association (MBA) and XAC Bank, brought together some 400 participants to discuss the establishment of a green credit fund as a potential incentive in financing the country’s green development. Mongolia has made strides in translating its Green Development Policy (GDP) into key sectoral actions. But the engagement among the finance sector, government agencies and the private sector can still be invigorated to mobilise finance for this transition to a green inclusive economy. In her keynote speech, UN Environment Assembly (UNEA) President and Mongolian Parliament member Ms. Oyun Sanjaasuren emphasized that financing the strategic objectives of the GDP will not only contribute to a green inclusive economy, but will also meet some of the Sustainable Development Goals. Panelists from the Ministry of Environment, Green Development and Tourism, Bank of Mongolia, International Finance Corporation, Dutch Development Bank (FMO), Mongolian Chamber of Commerce and Industry and MBA agreed that an immediate next step would be to convene a working group through which the financing needs and possibilities for Mongolia can be better understood and eventually designed.