Ulaanbaatar Green Affordable Housing and Resilient Urban Renewal Project (GCF-FP077)

Countries
  • Mongolia
Where the impacts of the investment may be experienced.
Specific Location
Ulaanbaatar city
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Green Climate Fund (GCF)
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
B
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
Jun 20, 2018
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
Ministry of Environment and Tourism of Mongolia
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
  • Infrastructure
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, etc.
Investment Amount (USD)
$ 145.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 95.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Grant Amount (USD)
$ 50.00 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)
$ 544.00 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 @ GCF website

Updated in EWS Jun 19, 2018


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Project Description

According to GCF website, The objectives of the project are to (i) improve the climate resilience of Ulaanbaatar city and the adaptability of Mongolia to climate change; and (ii) reduce greenhouse gas emission and pollution, and improve the livability in Ulaanbaatar city, by transforming the highly climate-vulnerable and high polluting peri-urban areas of Ulaanbaatar (ger areas) into eco-districts characterized as low-carbon, climate resilient, and affordable.

Investment Description
  • Green Climate Fund (GCF)

Co-financing:

Asian Development Bank US$ 80 million

DBM/Commercial Banks US$ 111.4 million

Developers US$ 103.7 million

Beneficiaries US$ 63.9 million

Municipality of Ulaanbaatar US$ 35.0 million

 

Contact Information

Arnaud Heckmann

Senior Urban Development Specialist East-Asia Urban and Social Sectors Division

aheckmann@adb.org

Address: Asian Development Bank, Mongolia Resident Mission

ICC Tower, 17th and 18th floor Jamyan Gun Street-9 Ulaanbaatar Mongolia

 

ACCOUNTABILITY MECHANISM OF GREEN CLIMATE FUND

The Independent Redress Mechanism (IRM) is the independent complaint mechanism for a person or people who have been or believe they are likely to be adversely affected by a project or programme funded by the Green Climate Fund. If you submit a complaint to the IRM, it may seek to address the issues raised by facilitating a problem-solving dialogue or, if that is not possible, conducting an independent investigation into whether the GCF has complied with its environmental and social policies.  The IRM is newly created and is still in the process of developing its procedures and website.  More information about the IRM and how you can file a complaint is forthcoming. You can contact the IRM at irm@gcfund.org.