The Asian Development Bank (ADB) and Bogd Bank JSC have joined forces to provide a $15 million loan aimed at financing micro, small, and medium-sized enterprises (MSMEs) in Mongolia, with a special focus on women-led MSMEs and green finance initiatives.
The financing package includes $14 million from ADB, with half specifically allocated to MSMEs led or owned by women. Additionally, $1 million comes from the Canadian Climate Fund for the Private Sector in Asia II (CFPS II), administered by ADB. This concessional loan from CFPS II will be blended with ADB’s financing to support climate finance initiatives for MSMEs, such as purchasing energy-efficient equipment and installing small-scale renewable energy systems.
The CFPS II concessional loan will be blended with ADB’s financing to fund climate finance initiatives for MSMEs, including purchasing energy-efficient equipment and small-scale renewable energy installations.
