Mongolia to cooperate for green development with ADB
The Asian Development Bank approved a 448 million US Dollars investment program to support the green and inclusive development of Mongolia’s provinces and sub-provinces.
The Asian Development Bank approved a 448 million US Dollars investment program to support the green and inclusive development of Mongolia’s provinces and sub-provinces. The Green Regional Development Investment Program will promote a transformative model for green territorial development and green urban-rural linkages. Secondary towns will become anchors of climate-smart agribusinesses that promote sustainable, resilient, and low-carbon rangeland management. Mongolia’s rangelands cover nearly 80 percent of the country and are under severe threat due to livestock pressure on pastureland and unsustainable rangeland management practices. Climate change has reduced the productivity of fragile rangelands and has increasingly exposed herders to climate-related natural hazards. To expand financial access for low-carbon and climate-resilient agribusiness value chains, the project will establish a green and inclusive regional agribusiness fund to provide climate-smart financial mechanisms and institutions to overcome the financial bottlenecks of agribusiness small and medium-sized enterprises. This will generate green jobs and promote green economic recovery and diversification. The project will be implemented in three stages and is expected to be completed in 2033.
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