Global Climate Partnership Fund provides Technical Assistance to XacBank
Since its founding in 2001, XacBank has provided sustainable financial solutions for its customer base, of which 1/3 is Mongolia’s youth (and future). Triple Bottom Line, XacBank follows the Kathmandu principles of value based banking with the People, Planet and Prosperity triple bottom line approach.
Customer Protection Principles, XacBank has been certified for its adherence to sound customer protection principles, and is a leader for such in Mongolia.
Green Climate Fund –Certification, XacBank is the first and currently only Green Climate Fund certified bank in Mongolia, providing “green” financial services.
The Global Climate Partnership Fund Technical Assistance Facility will develop an advanced Environmental and Social Assessment Rating tool with XacBank.The tool will support loan officers to identify critical industry-specific E&S risks at the initial loan assessment stage.
The Global Climate Partnership has been financing XacBank’s green lending activities since 2012, financing almost 1,000 renewable energy and energy efficiency projects that save over 20,000 tonnes CO2 per year.
