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ADB, Mongolia sign projects to drive climate action, enhance health services www.xinhuanet.com
The Asian Development Bank (ADB) and the Mongolian government on Wednesday signed two projects aimed at accelerating climate investments and improving access to affordable, quality health services across the country.
The agreements were signed by ADB's Country Director for Mongolia Shannon Cowlin and Mongolia's Minister of Finance Bold Javkhlan during a ceremony in Ulan Bator, the capital of Mongolia.
"These two projects mark a significant step toward a more sustainable, resilient, and inclusive future for Mongolia," said Cowlin. "By embedding climate action into national plans and budgets, we can catalyze both public and private investments, driving a transition to a low-carbon, inclusive, and resilient economy. At the same time, we must also ensure that underserved communities have access to essential health services."
The policy-based loan of 100 million U.S. dollars for Mongolia's Accelerating Climate Investment Program aims to enhance the country's capacity to meet its climate goals under the Nationally Determined Contribution and National Adaptation Plan through improved institutional frameworks, gender-responsive strategies, and climate action budgeting.
The program focuses on catalyzing investments in renewable energy, energy efficiency, and climate-resilient agriculture, while expanding green financing mechanisms like green bonds and loans to support low-carbon development, according to the ADB.
Meanwhile, the Improving Access to Health Services for Disadvantaged Groups Investment Program - Tranche 2, valued at 82.2 million dollars, aims to enhance primary healthcare in urban and rural areas, upgrade district and hospitals in provinces, and strengthen procurement and financial management systems.
Key initiatives include building a new hospital in Chingeltei District of the capital city, upgrading a hospital in the western province of Khovd with low-carbon technology, establishing gender-responsive family health centers in underserved areas, providing emergency medical equipment, and reforming healthcare financing and service delivery models, said the bank.
Published Date:2024-11-22
