On March 5, 2026, DBM Asset Management LLC, a subsidiary of the Development Bank of Mongolia, signed a Memorandum of Understanding with seven commercial banks. Through this agreement, the parties will jointly finance the construction of 4,200 housing units under the second phase of the “Ulaanbaatar Affordable Green Housing and Resilient Urban Renewal Sector Project.”
Specifically, the project—implemented by the Governor’s Office of the Capital City with financing from the Asian Development Bank (ADB) and the Green Climate Fund (GCF)—will be managed by DBM Asset Management LLC through the “Eco District and Affordable Housing Fund.” In cooperation with commercial banks, the project will provide financing on concessional terms.On this occasion, Memoranda of Understanding were signed with seven commercial banks—Khan Bank, Golomt Bank, State Bank, Trade and Development Bank, M Bank, Arig Bank, and Capitron Bank. According to the management of DBM Asset Management LLC, these banks were selected based on their compliance with the prudential ratio requirements set by the Bank of Mongolia and their commitment to supporting green financing initiatives.
