News

During the second week of COP17 in Ulaanbaatar, a landmark moment unfolded for Mongolia's green transition and sustainable development.

The European Investment Bank (EIB) and the Government of Mongolia signed a Letter of Intent paving the way for up to €200 million in financing to support the country's sustainable forestry and conservation sector.

Key Highlights of the EIB Partnership:

• Signatories — Signed by Minister of Environment and Climate Change Sandag-Ochir Tsend and EIB Vice-President Gelsomina Vigliotti.

• High-Level Presence — Attended by Prime Minister Uchral Nyam-Osor and EU Ambassador to Mongolia Ina Marčiulionytė.

• Financing Breakdown — Up to €20 million in EU grant funding for technical support, up to €100 million in concessional EIB lending, with remaining funds mobilized from partner sources.

• Core Objectives — Protecting forests, restoring degraded land, strengthening local businesses, creating green jobs, and enhancing rural livelihoods.

  
  

Unlocking Further Investment: World Bank Group Partnership

Adding to this momentum, Minister Sandag-Ochir Tsend and World Bank Group Vice-President Guangzhe Chen launched a joint statement for the "Sustainable Economy and Integrated Land Management" program—opening up to $100 million in blended financing for land conservation and climate resilience.

As Prime Minister Uchral highlighted during the event, these historic partnerships build directly upon the Steppe Action Agenda—the lasting policy legacy of COP17—turning high-level commitments into tangible results, investment, and economic opportunities for ordinary people.

We welcome these transformative investments from the EU lending arm and international financial partners, laying a strong foundation for green economic growth in Mongolia!