Translated version of this PSD: Mongolian
Provision of a senior loan to Khan Bank LLC of up to USD 60 million, of which up to USD 45 million to be provided by EBRD and up to USD 15 million by the Green Climate Fund ("GCF") under the GCF - Green Economy Financing Facility ("GEFF") Regional Framework.
The proceeds of the loan will be used for financing investments in climate change mitigation and adaptation technologies by local private sector clients, in line with the standards and reporting requirements for GEFF in Mongolia.
The transition impact of the project will come from the provision of funding and know-how to financial intermediaries to finance high performing 'climate' technologies and solutions. This will promote the transition to environmentally sustainable, low-carbon and climate-resilient economies.
KHAN BANK LLC
Khan Bank is the largest commercial bank in Mongolia with total assets of USD 3.4 billion, loan portfolio of USD 1.6 billion, equity of USD 0.37 billion as of YE2018. It operates with a branch network of more than 530 offices, 80% of which are located in the rural areas. The bank's services (deposit and loan products) cater to almost 75% of households in Mongolia.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Categorised FI (ESP 2014). Khan Bank is an existing client of the Bank and has adopted an Environmental Policy and Environmental and Social Procedures that largely satisfy requirements of Performance Requirements (PRs) 2, 4 and 9. Khan Bank will need to ensure ongoing compliance with PRs 2, 4 and 9 and submit Annual Environmental and Social Reports to the Bank via FI Sustainability Index, including reporting on sub-projects and their climate change mitigation and climate change adaptation benefits. Beneficiaries financed through the GEFF in Mongolia will be required to comply with national requirements for environment, health and safety and labour standards and the E&S eligibility criteria for climate mitigation and climate change adaptation projects as per the Policy Statement.
The operation will benefit from technical cooperation support in the amount of up to EUR 6 million, out of which up to USD 2 million will be financed by the GCF. The objective of the TC is to assist Participating Financial Institutions, including Khan Bank, with capacity building, marketing, project assessment and general monitoring and reporting.
Erdenedelger B., Vice President Corporate Banking
+976 11 332 333
+976 70 117 023
Khan Bank LLC Khan Bank Tower, Chinggis Avenue-6, Stadium Orgil-1, Khan Uul District,
Ulaanbaatar, 17010, Mongolia
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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