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EBRD finances construction of cardiovascular hospital in Mongolia
Author: Anton Usov
• EBRD lending up to US$ 34.9 million for construction of cardiovascular hospital in Mongolia
• Latest project under Ulaanbaatar Green Cities Action Plan
• Project to ensure improved access to healthcare for residents
The European Bank for Reconstruction and Development (EBRD) is providing a sovereign loan of up to US$ 34.9 million (€33.5 million equivalent) to the Ministry of Health of Mongolia to finance the construction of a specialised cardiovascular hospital in Ulaanbaatar. The project aims to improve access to healthcare and reduce mortality from cardiovascular diseases in the country.
The financing will enable the construction and commissioning of a modern, around 120-bed cardiovascular facility designed to achieve optimal energy performance and receive national energy performance class A+ green certification for resource-efficient buildings. This green approach will ensure the hospital operates sustainably while delivering high-quality medical services to the population.
The project is the latest under the Ulaanbaatar Green Cities Action Plan, which was approved in 2019 and demonstrates the EBRD's commitment to supporting sustainable urban development and improving quality of life for residents.
The EBRD's loan will be co-financed by a US$ 28.1 million (€27 million) contribution from the government of Mongolia, comprising a mix of government funds and a grant from the Grand Duchy of Luxembourg, reflecting a strong national commitment to healthcare infrastructure development.The EBRD has invested almost €2.5 billion in Mongolia’s economy through 159 projects to date. Approximately 90 per cent of these funds have been used to support private-sector companies.