STRENGTHENING COOPERATION ON GREEN DEVELOPMENT AND SUSTAINABLE FINANCE

 

The Ulaanbaatar City Governor’s Office and the Global Green Growth Institute (GGGI) initiated cooperation during UNCCD COP17 in Ulaanbaatar to mobilize up to USD 250 million in green investment. As part of this cooperation, the parties held a follow-up meeting in Seoul, Republic of Korea.

The meeting focused on aligning Ulaanbaatar’s priority green development projects with international sustainable finance, diversifying funding sources, and enhancing the investment readiness of projects.

The meeting was attended by B. Munkhbat, First Deputy Governor of Ulaanbaatar in charge of Economic Development and Infrastructure; J. Batbayasgalan, Senior Advisor to the Governor of Ulaanbaatar and Chairman of the Board of UBIM; G. Gangamurun, Chief Executive Officer of UBIM; G. Jargalsaikhan, Deputy Governor in charge of Social Development, Green Development, Air Quality and Environmental Pollution; and representatives of GGGI’s management team.

The parties discussed opportunities to mobilize international financing and broaden access to funding for forestry investment, the clean heating transition, green finance, green bonds, and electric mobility infrastructure. They also explored opportunities to align projects with international green finance criteria and requirements.

Going forward, UBIM and GGGI will continue working-level exchanges of project information and financial models to further develop potential investment and financing opportunities and advance their cooperation.

The parties agreed to hold the next round of discussions in Ulaanbaatar in the last week of September, during the visit of Jason Lee, GGGI’s Deputy Regional Director for Asia.