Ulaanbaatar, Mongolia – 16 March, 2018 – The GGGI Mongolia team organized and co-hosted a Stakeholders’ Consultation Meeting under the theme of “Partnership to Create a National Green Financing Vehicle” today.
The main focus of the meeting, organized under the Readiness Programme of the Green Climate Fund (GCF), was to discuss the action plan to set-up and operationalize the Mongolian Green Finance Corporation (MGFC).
The outcomes of the MGFC preparatory activities, including the development of the draft funding proposal to be submitted to the GCF by the end of March 2018, was presented during the meeting and an interactive discussion session was facilitated to identify further partnership opportunities among multiple stakeholders and potential synergies between on-going projects.
The key participants of the consultative meetings included representatives of the Ministry of Environment and Tourism, the Ministry of Finance, Environment and Climate Fund, the Ministry of Construction and Urban Development, the Ministry of Energy, the Energy Regulatory Commission, UB City Municipality, the Financial Regulatory Commission, the Bank of Mongolia, PAGE, UNITAR, IFC, World Bank, GIZ, EBRF-MonSEFF, JICA, UNDP, AVSF, SDC, WASH Action, major commercial banks of Mongolia, UB city Chamber of Commerce, private companies, NGOs and civil society organizations.
Mr. Tserenbat. N, the Minister for Environment and Tourism delivered his opening remarks where he highlighted GGGI and ToC Association’s initiatives and contribution to the establishment and development of a green financing vehicle in the country. He also said “a green financing corporation is the most important project to promote public and private sector engagement in green investment and MET has been actively participating in the whole process from its inception and GGGI will continuously support the project for further succeed”.
The main talking points of the meeting were a) MGFC project background and the GCF readiness programme progress update; b) MGFC target markets, potential products and the GHG emission reduction assessment; and c) MGFC’s organization structure, management, governance, ESG and gender policy and the next key milestones.
An interactive panel discussion session entitled “From concept to implementation: Roles and responsibilities of project partners and other stakeholders” was held to strengthen further cooperation among key stakeholders of the MGFC project, including the Ministry of Environment and Tourism, the Ministry of Finance, the NDA, the Mongolian Sustainable Finance Association, the GCF Accredited Entity – ХасBank and GGGI. Other stakeholders will have an opportunity to make interventions regarding synergies and partnership opportunities between MGFC and various on-going projects.
This was the first of the three consultation meetings organized under the Readiness Programme of the Green Climate Fund.