Mongolia : Khan Bank Green Bond Investment Project

Nonsovereign Project | 57215-001

Project Details

  • Project Officer
    Huang, Biao
    Private Sector Operations Department
    Request for information
  • Approval Date
    30 January 2024
  • Country/Economy
    Mongolia
  • Sector
    • Finance
Project Name Khan Bank Green Bond Investment Project
Project Number 57215-001
Borrower / Company Khan Bank JSC
Country / Economy Mongolia
Location Nation-wide
Type or Modality of Assistance
7826 Debt Security Ordinary capital resources USD 20.00 million Approved
Operational Priorities OP2: Accelerating progress in gender equality
OP3: Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability
Sector / Subsector

Finance / Finance sector development

Gender Effective gender mainstreaming
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Private Sector Financial Institutions Division
Responsible ADB Officer Huang, Biao
Project Sponsor(s)
Description
Objectives and Scope The proceeds on the green bonds will be used by Khan Bank JSC for the financing of eligible sub-projects in line with KHB's Green Bond Framework (GBF). The project will help promote (i) domestic capital markets through the first green thematic bond issue listed on the MSE, (ii) affordable green investment financing across Mongolia, and (iii) women borrowers' access to green finance.
Linkage to Country/Regional Strategy

The investment supports the following priorities of ADB's Strategy 2030: (i) accelerating progress in gender equality (operational priority 2); and (ii) tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability (operational priority 3). The investment is aligned

with ADB's country partnership strategy, 20192023 for Mongolia, which promotes (i) gender equality, (ii) resilience to climate change and disaster impacts, and (iii) improved access to finance.

Safeguard Categories
Environment FI
Involuntary Resettlement FI-C
Indigenous Peoples FI-C
Summary of Environmental and Social Aspects
Environmental Aspects No significant compliance issues were identified in the audit.
Involuntary Resettlement KB has existing environmental and social management policies and procedures in place including screening for impacts on Involuntary Resettlement. These will be enhanced, if necessary, to meet ADB SPS requirements.
Indigenous Peoples Khan Bank will utilize ADB green bond proceeds for eligible sub-projects which are categorized as C on Indigenous Peoples (IP), as no impacts on IPs are foreseen. KB has an existing environmental and social management policies and procedures in place including screening for impacts on IP. These will be enhanced, if necessary, to meet ADB SPS requirements.
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance -
Credit Committee Meeting -
Approval 30 Jan 2024
Last PDS Update 31 Jan 2024

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

Title Document Type Document Date
Khan Bank Green Bond Investment Project: Gender Assessment and Action Plan Gender Action Plans Jan 2024
Khan Bank Green Bond Investment Project: FAST Report Faster Approach to Small Nonsovereign Transactions Jan 2024
Khan Bank Green Bond Investment Project: Preliminary Poverty and Social Analysis Initial Poverty and Social Analysis Oct 2023

Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.


Evaluation Documents See also: Independent Evaluation

None currently available.


Related Publications

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The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

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