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World


ADB approves 100 mln USD loan to spur climate action in Mongolia

Manila, Nov. 18 (UNI) The Asian Development Bank (ADB) said Monday that it has approved a policy-based loan of 100 million U.S. dollars to help accelerate and sustain investment in climate action in Mongolia.
The Accelerating Climate Investment Program will "help Mongolia anchor climate action in national plans and budgets and catalyze public and private climate finance to accelerate a low-carbon, inclusive, and resilient economy," said ADB's Country Director for Mongolia Shannon Cowlin.
Mongolia is vulnerable to climate-related hazards and is particularly at risk of the impacts of global warming, said the ADB in a press release.
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