The CGAP, financially supported by the government of the Republic of Korea, will help identify and implement actions and investments to address priority environmental issues in the capital of Mongolia. It is expected that the first project under the framework will be aimed at the improvement of Ulaanbaatar’s solid waste management system.

The launch event was attended by the Chairman of the City Council, S.Amarsaikhan, the Deputy Governor of the City of Ulaanbaatar, J. Batbayasgalan, and the EBRD Head of Mongolia, Irina Kravchenko. It was followed by a workshop, where stakeholders together with GCAP consultants examined the areas of primary importance for the capital.

EBRD Green Cities is a €950 million facility that offers a comprehensive business model for green urban development, combining strategic planning with investment and associated technical assistance.

Green Cities is one way in which the EBRD is scaling up its green financing as a part of its Green Economy Transition (GET) approach. The Bank seeks to increase the volume of green financing to 40 per cent of the EBRD annual investment by 2020.

The EBRD works in Mongolia to build a diverse economy by developing the private sector and supporting infrastructure improvements. The Bank has invested more than €1.5 billion in almost 100 projects in the country since it started operations there in 2006.