Golomt Bank released its inaugural “Development Impact Assessment” drafted in cooperation with J.P. Morgan Development Finance Institution /JPM DFI/. Golomt Bank strives to fully integrate the concept of sustainable development into its own business strategy and make every effort to build a robust green finance system to contribute to the realization of Nationally Determined Contribution, the Paris Agreement and the protection of the environment and the society.
On May 9, 2024, Golomt Bank successfully issued US$300 million Reg S/ 144A notes in the international capital markets /the Transaction/, enabling Golomt Bank to increase the sustainable, green loan portfolio across the categories of renewable energy, low pollution energy, energy efficiency, green buildings, pollution prevention and control, sustainable agriculture, land use, forestry and eco-tourism, sustainable water and waste management, and clean transport.
According to the development impact assessment provided by JPM DFI in conjunction with the Transaction, Mongolia has a High gap relative to other developing countries in achieving the Sustainable Development Goals /SDG/ in scope of the Transaction. Golomt Bank has identified and highlighted its anticipated development outputs and outcomes as part of the Transaction and has committed to monitor and report the positive impacts that are anticipated to contribute to the implementation of following SDGs in scope of the Transaction.
It is important to note that the Bank is committed to transparently report to the stakeholders on the implementation progress indicators of the identified SDGs on an annual basis.
For further details, access the Development Impact Assessment by clicking HERE.
Investing for a Brighter Future