Mongolia and Kenya to sign MoU to promote sustainable finance

Oyundelger 2017-03-28 06:03

Economy

The Mongolian Bankers Association and the Kenya Banking Association signed a Memorandum of Understanding to advance environmental and social risk management and sustainable financing practices.

Mongolia and Kenya are to sign MoU to promote sustainable finance. The Mongolian Bankers Association (MBA) and the Kenya Banking Association (KBA) signed a Memorandum of Understanding (MoU) to advance environmental and social risk management and sustainable financing practices. Mongolia and Kenya have either launched national policies or voluntary principles on sustainable finance. The Mongolia-Kenya exchange is an example of peer knowledge exchange and learning visits conducted by members of the IFC-supported Sustainable Banking Network (SBN). As one of the founding members of SBN, the MBA has successfully positioned itself as a consensus builder, mobilizing the entire banking community to jointly develop, adopt and implement the Mongolian Sustainable Finance Principles. The Mongolian Bankers Association has forged a strong public-private partnership with the Bank of Mongolia and Mongolian Ministry of Environment and Tourism and the Mongolian Sustainable Finance Principles and has become the key component of the Mongolian Government's Green Development Policy.