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2018-10-19More »


SUSTAINABLE FINANCING PROGRAM

2018-07-31   54

Sustainable Finance Initiative was held in May 2013, by the initiative of the Banking and Financing Academy, Mongolian Bankers Association, International Finance Corporation, Trade and Development Bank, Netherland Development Bank to implement environmentally and socially friendly sustainable financing program in Mongolia. This initiative and program is supported and cooperated with the Government of Mongolia, Ministry of the Environment and Green Development, Bank of Mongolia, and Financial Regulatory Commission; environmentally and socially beneficial, green development subjects are highly regarded.

Within the framework of the initiative, on 21st of November 2013, executives of all the banks and the Mongolian Bankers Association signed the “Declaration of cooperation to develop an environmentally and socially friendly sustainable financing policy  in Mongolia”, declaring to work together in the  aim of implementing a good financing principles into the bank, and financing system of Mongolia.

By implementing this program, the banks will bring in a special contribution to the establishment of the green economy, allowing the next generation to inherit a preserved environment by setting particular criteria in granting credits.

Within the framework of developing a sustainable financing policy, we planned to take several activities as to make environmentally-friendly business decisions, implement internationally accepted sustainable financing standards into the operations, develop particular regulations and policies dedicated for the banking industry, furthermore, improve public knowledge of the green development and sustainable financing.

 

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