Mongolia: Global Gateway - EIB Global supports sustainable forestry

EIB Global has signed its largest ever financing agreement for investment in Mongolia. It will support a pioneering initiative to address the degradation and overgrazing of grasslands across Mongolia by backing investment in climate-resilient and low-carbon cities and local agribusiness. The scheme will help to better protect fragile grasslands threatened by unsustainable livestock overgrazing, more frequent extreme weather and less frequent rains, and an average temperature increase of 2.1°C over the past 70 years.

Concerning the forest part of the scheme:

• EIB Global agrees to work with Mongolian partners to reverse deforestation, increase climate action, protect biodiversity and expand sustainable forest management.

The new MoU will enable the EIB to support the EU-Mongolia Forest Partnership. It will help the country to better preserve existing forests and facilitate the development of a sustainable and inclusive economy and society under sound forest management that takes into account the needs of the local communities.

EIB Press release