The Bank of Mongolia to expand international cooperation on sustainable development and green finance

The Bank of Mongolia held several meetings with delegations from international financial institutions attending the 17th session of the Conference of the Parties to the UN Convention to Combat Desertification (COP17).

The meetings were held with the Luxembourg Sustainable Finance Initiative (LSFI), Toronto Centre of Canada, the Netherlands Development Finance Company (FMO), the Bank of Bhutan, the Financial Institutions Association of Bhutan (FIAB), the European Bank for Reconstruction and Development (EBRD), and the Asian Development Bank (ADB). The Bank presented the sustainable development and green finance policies and regulations it is implementing, and exchanged views on the current macroeconomic situation, financial stability and regulation, the amendments to the Banking Law, climate risk management, and sustainable finance.

In the course of these meetings, the Bank discussed with several of the institutions the scope for broadening cooperation through technical assistance in developing sustainable finance policy, transition plans and a measurement, reporting and verification framework, as well as the possibility of establishing knowledge-sharing and peer-learning partnership programmes.