WBG Supports Golomt Bank to Pilot Blue Finance, Promote Green Projects and SMEs

Ulaanbaatar, Mongolia, Oct 2, 2025— In support of water management, energy efficiency, small and medium-sized enterprises (SMEs), and women-led businesses, Golomt Bank will receive a $160 million financing package led by IFC, a member of the World Bank Group (WBG) supporting the private sector, with co-financing from Proparco, private sector finance financing arm of the group Agence Française de Développement (AFD). The initiative marks Mongolia’s first-ever blue finance transaction. This cooperation strengthens partnership between Mongolia’s finance sector with international institutional investors, while promoting environmental sustainability and social development.

This funding is designated to support key sectors and projects that deliver long-term benefits for communities and ecosystems across Mongolia. Up to 60 percent of the total funding will be directed toward projects addressing environmental challenges, including up to 25 percent dedicated to ‘blue’ initiatives that enhance water efficiency, water sanitation and water supply, in line with the IFC Guidelines for Blue Finance. The remainder will be allocated to small and medium enterprises, especially those owned by women or located in rural areas, which are vital for job creation and economic resilience.

As a landlocked country, Mongolia faces significant water-related challenges due to its lack of access to the sea and rapid urbanization. This also presents opportunities for innovation in water management and infrastructure. According to the World Bank Group studies, achieving Mongolia’s sustainable development goals will require over $10 billion in sustainable investments by 2050.

This initiative supports and aligns with Golomt Bank’s medium-term targets to reduce its climate impact by 30 percent and its impact on water resources by 5 percent by 2030, as well as its long-term sustainability goals.

"The long-term financing provided by IFC is a testament to the confidence and recognition of our efforts, marking a new chapter in Golomt Bank’s history,” said Mr. Odonbaatar A., CEO of Golomt Bank. “Golomt Bank is committed to avoiding greenwashing and instead focuses on creating real, measurable impact through both our own operations and those of our clients. Through this partnership, we are not only expanding traditional green and sustainable financing but also introducing a new product to the market - blue financing. In addition, we place special emphasis on supporting small and medium-sized enterprises, particularly women-led businesses, which are a key driver of the economy."

Matthieu Le Blan, IFC’s Resident Representative for Mongolia, noted. “We are pleased to partner with Golomt Bank to expand sustainable and inclusive finance in Mongolia. Our collaboration fully aligns with the World Bank Group’s strategy to support Mongolia’s transition to a diversified and resilient economy. We look forward to working with Mongolian and international partners to create quality jobs, attract investments, improve efficiencies, and advance women economic empowerment.”

About IFC

IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.

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About Golomt Bank JSC

Established in 1995, Golomt Bank is one of Mongolia’s first private commercial banks to be listed on the Mongolian Stock Exchange. With a nationwide network of over 100 branches, the bank provides a comprehensive range of financial services to retail, small and medium-sized enterprises, and large corporations. Golomt Bank is distinguished in the industry for its commitment to enhancing the financial capabilities of its customers through a variety of non-financial services, mentorship, training programs, and strategic partnership initiatives, the bank empowers businesses to expand their reach and unlock new opportunities.

As part of its long-term vision, Golomt Bank is dedicated to supporting Mongolia’s sustainable economic growth by implementing socially and environmentally responsible policies and practices. For more information, visit www.golomtbank.com.

About Proparco

Proparco is a subsidiary of the French Development Agency (AFD Group), established in 1977 to promote sustainable development in emerging markets through private sector investment. Operating in over 80 countries across Africa, Asia, Latin America, and the Middle East, Proparco focuses on financing projects that generate positive social and environmental impact—such as renewable energy, healthcare, education, financial inclusion, and support for SMEs. By investing in responsible businesses, Proparco contributes to job creation, gender equality, and climate resilience, aligning with global development goals.