PEER LEARNING: MONGOLIA AND THE KYRGYZ REPUBLIC COLLABORATE TO ENHANCE GREEN FINANCE

On February 17, 2021the Kyrgyz Republic and Mongolia launched a virtual South-South partnership, with Mongolia sharing its experience in generating green finance.  

The South-South Triangular Cooperation between the two PAGE Partner Countries is providing a space to build and strengthen mutual exchange on sustainable finance, in particular utilizing the Mongolian experience in establishing the Mongolian Green Finance Corporation (MGFC) and attracting green finance to the country 

This first exchange gathered key stakeholders from the Ministry of Economy and Finance, Union of Banks of the Kyrgyz Republic and resulted in an agreement to organize a regular two-way exchange and learningformalized through a Memorandum of Understanding.  

A PAGE country since 2013, Mongolia has already achieved significant results, particularly in the realm of sustainable finance and can offer a model for best practices in institutions such as the MGFC, which specializes in attracting green financeWith the Kyrgyz Republic at the starting point in promoting sustainable finance for its development agenda, the experience of Mongolia can offer significant supportAmong the priorities of the Kyrgyz Republic, finance for sustainable development is included in its Green Economy Development Programme as a priority action.