MonSEFF:Khan Bank Sustainable Energy Loan (EBRD-48857)

Countries
  • Mongolia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 18, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
KHAN BANK LLC
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Sep 12, 2017

Disclosed by Bank Jun 13, 2017


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Project Description
A sustainable energy ("SE") loan of up to USD 5 million under the Mongolian Sustainable Energy Financing Facility ("MonSEFF") to Khan Bank for financing sustainable energy projects in Mongolia. The Project will promote SE financing, technologies and renewable energy investments in the industrial sector of Mongolia through one of leading local banks, demonstrate innovative products and processes to the market and contribute to the transfer of skills via dedicated technical cooperation (TC). The Project facilitates financing of SE investments for industrial clients, thus contributing to green economy transition through climate change mitigation, climate change adaptation, and wider environmental areas.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information
Erdenedelger B., Director of Treasury and Investment Banking erdenedelger.b@khanbank.com +976 11 332 333 +976 70 117 023 www.khanbank.com Khan Bank LLC Seoul Street-25, PO.BOX-192, Ulaanbaatar, Mongolia ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.