Under the Mongolia Water Compact signed between the Government of Mongolia and the U.S. Millennium Challenge Corporation (MCC), Ulaanbaatar Bulk Water Supply Program has been successfully implemented with total financing of USD 461.76 million, including a USD 350 million grant from the MCC and USD 111.76 million contribution from the Government of Mongolia. This project represents one of Mongolia’s key strategic infrastructure investments aimed at increasing water supply in Ulaanbaatar, strengthening the sustainability of water sector, and promoting the recycling and reuse of wastewater for industrial purposes.
Golomt Bank actively supported this national-scale infrastructure initiative by providing comprehensive financial services to the project Contractors over the period from 2021 to 2026. In particular, under the projects “The Downstream Wells Activity” and “The Wastewater Recycling Activity” the Bank issued long-term green guarantees totaling USD 51.6 million.
Through this comprehensive program, multiple impactful outcomes are being achieved, including ensuring a long-term and sustainable water supply for the residents of Ulaanbaatar, creating favorable conditions for the city’s expansion and economic growth, reducing the over-extraction of groundwater resources, introducing recycled wastewater solutions for industrial use, and ultimately minimizing negative environmental impacts. Moreover, the project is making a tangible contribution to climate change adaptation and the development of sustainable water resource management practices.
Golomt Bank extends its congratulations to the Millennium Challenge Account Mongolia, as well as to the Main Contractors and Subcontractors as well as all other stakeholders, on the successful implementation of the project, and expresses its sincere appreciation to all partner organizations for their cooperation.
As a “Water Ambassador” Bank in Mongolia, Golomt Bank actively supports safe and sustainable water supply, wastewater management, and related infrastructure development through its blue finance solutions.
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