GCPF Participates in USD 150 Million Syndicated Facility to Support Green and Inclusive Finance in Mongolia

Zurich, 10 February 2026 – The Global Climate Partnership Fund (GCPF) has participated in a USD 150 million FMO-led syndicated loan facility for XacBank, one of Mongolia’s leading systemically important banks. The transaction builds on the long-standing partnership between GCPF and XacBank and supports the further expansion of green lending and inclusive finance in the country.

XacBank is a pioneer of green lending in Mongolia, with more than 15 years of experience in financing energy efficiency and renewable energy solutions. Serving over one million customers nationwide, the bank plays a central role in expanding access to finance for micro, small and medium-sized enterprises (MSMEs) as well as households, including in rural areas.

The syndicated facility was arranged and led by FMO, the Dutch entrepreneurial development bank, with Cassa Depositi e Prestiti (CDP) acting as parallel A-lender. GCPF participates alongside responsAbility-managed financial inclusion debt funds and other international lenders, including ILX Fund, Nations Trust Bank (Sri Lanka), and BlueOrchard.

Strengthening a long-standing partnership

GCPF and XacBank have partnered since 2012, during which time the fund has provided multiple financing facilities as well as targeted technical assistance. This long-term engagement has contributed to the development and scaling of Mongolia’s green lending market, with the current transaction representing a further expansion of this long-standing partnership.

Through the syndicated facility, XacBank will receive long-term funding to further grow its established green portfolio and deepen its support to MSMEs and households. GCPF’s participation is complemented by technical assistance aimed at scaling energy-efficient housing and construction solutions — a particularly important sector given that buildings account for a significant share of Ulaanbaatar’s energy consumption and emissions.

Supporting Mongolia’s Climate Finance ecosystem

The transaction is among the largest syndicated facilities arranged for a Mongolian bank in recent years. It strengthens the country’s climate finance ecosystem at a time of high vulnerability to climate risks and a persistent climate finance gap, while aligning with ongoing governmental efforts to promote energy efficiency and climate-resilient infrastructure.

By mobilizing international capital and combining long-term financing with technical assistance, the facility supports Mongolia’s transition toward a more sustainable, inclusive, and resilient economy.

About XacBank

XacBank JSC is Mongolia’s fourth-largest commercial bank, supported by strong governance practices and a diversified shareholder base that includes international and development finance institutions such as IFC, EBRD, ORIX, and NBC. The Bank has a long-standing focus on MSME financing and is recognized for its role in advancing sustainable finance in Mongolia.

About GCPF:

The Global Climate Partnership Fund is an investment vehicle dedicated to financing climate-friendly solutions in emerging and developing markets. The fund focuses on energy efficiency, renewable energy, sustainable transport, and resource efficiency, while supporting local financial institutions and businesses that contribute to climate change mitigation and adaptation.