Ulaanbaatar, Mongolia, May 13, 2026 – The Global Green Growth Institute (GGGI) and Arig Bank signed a Memorandum of Understanding (MoU) to strengthen cooperation on sustainable finance and support the development of thematic bonds in Mongolia. The partnership aims to accelerate green and inclusive investment and mobilize sustainable financing for Mongolia’s low-carbon and climate-resilient development. 

The MoU was signed by Dr. Jaeseung Lee, Acting Regional Director for Asia at GGGI and Mr. Khurelbaatar Osordeleg, Chief Executive Officer of Arig Bank. 

The partnership will support the implementation of GGGI’s Accelerating Thematic Bonds Mongolia project, which is supported through GGGI’s multi-regional Global Trust Fund on Sustainable Finance Instruments programme, funded by the Government of Luxembourg. It will provide a framework for collaboration on sustainable finance initiatives. GGGI will support Arig Bank in developing a thematic bond framework, strengthening institutional capacity to identify green and social projects and advising on international standards and verification processes for thematic bond issuance. The collaboration will also facilitate engagement with potential investors and support the development of sustainable financing opportunities in Mongolia.  

Dr. Jaeseung Lee, Acting Regional Director for Asia at GGGI, emphasized the importance of strengthening partnerships with the financial sector to advance sustainable development and climate action in Mongolia. 

“This partnership with Arig Bank represents an important step toward expanding sustainable finance opportunities in Mongolia. By supporting the development of thematic bonds and strengthening institutional capacity, we aim to help mobilize investments that contribute to green growth, climate resilience and inclusive economic development.”  

Mr. Khurelbaatar Osordeleg, Chief Executive Officer of Arig Bank, highlighted the Bank’s commitment to sustainable finance and ESG integration. 

“Arig Bank is committed to advancing sustainable and responsible financing practices in Mongolia. Through this collaboration with GGGI, we look forward to strengthening our sustainable finance framework and expanding access to international green financing opportunities that support businesses and communities across Mongolia.”  

Under the MoU, the Parties will also collaborate on technical assistance, capacity building activities, ESG integration, development of green loan products and outreach initiatives to promote sustainable finance and thematic bond issuance in Mongolia.  

The partnership reflects the shared commitment of GGGI and Arig Bank to support Mongolia’s transition toward a greener, more resilient and inclusive economy through innovative financing mechanisms and strengthened cooperation with the financial sector.