The cooperation project in Mongolia was launched in December 2016 on behalf of the Federal Ministry for Economic Cooperation and Development (BMZ) and the German Sparkassenstiftung for International Cooperation, with the support of the Central Bank of Mongolia and the Mongolian Bankers Association. It was successfully completed at the end of 2024 and handed over to our project partners in a sustainable manner.
Our new project, which began on 1 January 2025, focuses on two core tasks:
- Advancing sustainable finance across Mongolia’s financial sector.
- Assessing the feasibility of introducing a building society model in Mongolia.
Both initiatives are crucial for the continued development of the Mongolian economy and the country. We are working closely with the Central Bank of Mongolia and the Mongolia Mortgage Corporation on these topics. Additional partners include the Mongolian Banking Association, the Mongolian Sustainable Finance Association and the Banking & Finance Academy of Mongolia.
The building society concept has the potential to create significant social impact across Mongolia. This topic is also of special importance to Deutsche Sparkassenstiftung, and we are receiving support from our German partner, LBS NordOst.
Furthermore, we are collaborating with GIZ on two projects:
- Sustainable Finance for SMEs
- Energy-efficient renovation and financing of old buildings, including the development of an innovative financing option in cooperation with the city administration of Ulaanbaatar.
