Early Warning System

Countries

Mongolia

Geographic location 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

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Oct 21, 2025

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Khan Bank JSC

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Agriculture and Forestry
Finance

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 20.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Project Cost (USD)

$ 20.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Primary Source

Original disclosure @ EBRD website

Updated in EWS Nov 13, 2025

Disclosed by Bank Oct 22, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of the provision of a senior unsecured loan of up to US$ 20m (EUR 16.8 m) to Khan Bank under the Financial Intermediaries Framework (FIF). The loan proceeds will be on-lent exclusively to support the local agricultural sector, including investments in environmentally sustainable (i.e. Green Economy Transition (GET) eligible) agriculture sector.

The loan will enable Khan Bank to diversify its funding base and provide long term financing to support the agricultural sector exclusively, including supporting environmentally sustainable (i.e. GET eligible) agriculture sector investments.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Categorised FI (ESP 2024). KB is an existing client of EBRD and currently complies with Environmental and Social Requirements (ESRs) 2, 4, and 9 under its existing exposures. The loan will finance investments in micro, small, and medium enterprises in the agriculture sector, assessed as having low to medium environmental and social ("E&S") risk. The main E&S risks relate to potential impacts from financed sub-loans, particularly those associated with agricultural activities such as land use, water consumption, chemical inputs, waste management, and labor practices.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

A senior unsecured loan of up to US$ 20m (€ 16.8 m) under the Financial Intermediaries Framework (FIF).

Financial Intermediary

A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.

Khan Bank (Financial Intermediary)

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Khan Bank JSC ("KB") is the largest commercial bank in Mongolia, providing services to more than 82 per cent of the population through its digital banking channels and a network of 538 branches across the country.

As of 1H2025, the bank's total assets reached US$ 6.0bn (29 per cent of the sector's assets), with loan portfolio of US$ 3.6bn (32 per cent), and equity of US$ 680.8m (34 per cent). KB is currently rated "B2/stable" by Moody's and "B+/stable" by Fitch, at par with the sovereign.

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Bolortuya B., Director of International Banking Department
bolortuya.b@khanbank.com
+976 11 332 333
+976 70 117 023
www.khanbank.com
Khan Bank JSC Khan Bank Tower, Chinggis Avenue-6, Stadium Orgil-1, Khan-Uul District, Ulaanbaatar 17010 Mongolia

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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