The 34th Annual Meeting of the European Bank for Reconstruction and Development (EBRD), held in London, the UK under the theme “Expanding Reach and Strengthening Resilience”, concluded with the participation of high-level representatives from Mongolia, including delegates from Mongol Bank, the Ministry of Finance and the private sector.
This year’s meeting was particularly significant as it marked the EBRD’s strategic pivot into Sub-Saharan Africa. The board officially approved the admission of Benin, Cote d’Ivoire, and Nigeria as host countries, reinforcing the bank’s commitment to expanding its development mandate beyond its traditional regions. In addition, the meeting adopted the EBRD’s strategic plan for 2026 through 2030, which aims to broaden the bank’s operational scope and enhance its resilience amid evolving global economic and geopolitical challenges.
During the event, Mongolian representatives held bilateral talks with key EBRD officials, including Director for Financial Institutions George Orlov, Director for Central Asia Huseyin Ozhan and Director of the region representing Mongolia on the bank’s Board of Director Rene van Hell. Discussions focused on expanding inter-institutional cooperation, especially in the areas of financial sector development, climate finance, and private sector support.
A landmark development emerged during the meeting with the signing of a 145 million USD long-term financing agreement between Khaan Bank and the EBRD. The funding will be used to support green business initiatives and empower women entrepreneurs in Mongolia. This marks the single largest financial package the EBRD has ever extended to a Mongolian financial institution and signals strong confidence in Mongolia’s commitment to inclusive and sustainable development.
The agreement is expected to significantly contribute to Mongolia’s climate goals and its efforts to foster a more inclusive economy by improving access to finance for women-led enterprises. It also reflects a broader trend at the EBRD toward promoting green growth and gender equality across its partner countries.
