Mongolia establishes sustainable finance
Mongolia is one of the eight countries that are at the ‘established’ stage of sustainable finance reported the Global Progress Report of the Sustainable Banking Network.
Mongolia establishes sustainable finance. Mongolia is one of the eight countries that are at the ‘established’ stage of sustainable finance reported the Global Progress Report of the Sustainable Banking Network. Eight countries including Mongolia, Bangladesh, Brazil, China, Colombia, Indonesia, Nigeria, and Vietnam have reached an advanced stage, having implemented large-scale reforms and put in place systems for results measurement. These reforms require banks to assess and report on environmental and social risks in their lending operations and put market incentives in place for banks to lend to green projects said the Global Progress Report. The report was introduced at a press conference held in Ulaanbaatar, where International Finance Corporation (IFC) Resident Representative to Mongolia Tuyen D. Nguyen appreciated Mongolia’s efforts and progress in sustainable banking.
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