The facility will support the Mongolian bank's green loan activities, targeting MSMEs and retail customers; meanwhile, billions of dollars of financing are needed in Mongolia to hit SDG goals.
Time spent with global investors allowed the central Asian republic to slash funding costs and refocus the economy away from coal while paving way for a future issuance.
While multilateral agencies have long invested along ESG lines, the first green bond in Kazakhstan and private equity demand in Uzbekistan show that it is going mainstream.
The cancellation of a stake sale in the country’s flagship coal mining company comes as economic growth and ratings agencies cast a shadow on the economy.
We are setting out the rationale for the choices made in our Country Awards for India, Indonesia, Laos, Kazakhstan, Malaysia, Mongolia, Myanmar, Pakistan and the Philippines.