ADB agrees financing to transform Ulaanbaatar ger areas

The Asian Development Bank has approved an $80 million loan to help transform ger areas in Ulaanbaatar, Mongolia, into affordable, low-carbon, climate-resilient, and livable eco-districts. ADB also agreed a $95 million loan and a $50 million grant from the Green Climate Fund, as well as a $3 million sector grant from the High-Level Technology Fund.

The project is a large-scale initiative to transform sub-standard, highly vulnerable, highly emitting, and polluting ger - settlements of low- and middle-income household areas - into affordable, low carbon, climate-resilient, and livable eco-districts.