Mongolia’s Khan Bank has received a loan worth US$70mn from the European Bank for Reconstruction and Development (EBRD).

The financing package will be aimed at supporting small and medium enterprises (SMEs) and their value chains and sustainable energy projects designed to improve energy efficiency. It also includes a risk-sharing facility that will help Khan Bank clients access longer-term financing, and an increase in the trade finance facility.

The sustainable energy part of the financing package is worth US$10mn, and is part of the Mongolian sustainable energy financing facility – itself part of EBRD’s support for green economy transitions. The EBRD is also providing technical co-operation as part of the sustainable energy financing portion, funded by the multi-donor EBRD shareholder special fund.

Khan Bank, which has around 500 offices across Mongolia, is one of the largest commercial banks in the country.