Green financing infrastructure to be established

Oyundelger 2018-03-30 07:03

Society

Green Climate Change Fund at the Khas Bank of Mongolia is in process of securing the 30 million USD for helping ger area residents to insulate their houses and construct new energy efficient homes.

Green financing infrastructure to be established. Green Climate Change Fund at the Khas Bank of Mongolia is in the process of securing the 30 million USD for helping ger area residents to insulate their houses and construct new energy efficient homes. The senior officer at the Green Climate Change Fund Mr. Naidal highlighted that this would be the foundation of the systems for supporting green business initiatives in Mongolia. According to the researches by CCF, houses and gers or Mongolian traditional dwellings are found to have tremendous heat losses which result in families burn more unrefined coal during winter that lead to the increase of air pollution level in Ulaanbaatar. Therefore, the loans will encourage ger district residents to insulate their houses and gers to prevent from heat loss which would result in the reduction of 30-40 percent of coal consumption per house. In addition, 3 thousand households will be able to take the soft loan with the interest rate of 8 percent with 10 years period to upgrade their houses to chimney free houses to altogether stop burning coal.