Mongolia : Khan Bank Green Bond Investment Project
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
Approval Number Facility Fund Source Amount Status 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
- 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
Contact
- Responsible ADB Officer
- Huang, Biao
- Responsible ADB Division
- Private Sector Financial Institutions Division
- Responsible ADB Department
- Private Sector Operations Department
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: FAST Report | Faster Approach to Small Nonsovereign Transactions | Jan 2024 |
| Khan Bank Green Bond Investment Project: Gender Assessment and Action Plan | Gender Action Plans | 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
None currently available.
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.
Requests for information may also be directed to the InfoUnit.