EIB Global and Mongolia Forge €1 Billion Green Investment Partnership

The agreement — backed by the European Commission — represents a major milestone in the long-standing partnership between the European Union and Mongolia.

In a landmark step toward sustainable development, EIB Global, the development arm of the European Investment Bank (EIB), has signed a memorandum of understanding (MoU) with the Government of Mongolia that could unlock up to €1 billion in new investment. The partnership, announced at the first Mongolia–EU Business and Investment Forum in Ulaanbaatar, aims to advance renewable energy, modern power networks, sustainable transport, and other projects central to Mongolia’s green transition.

The agreement — backed by the European Commission — represents a major milestone in the long-standing partnership between the European Union and Mongolia. It establishes a framework for closer collaboration under the EU’s Global Gateway strategy and Mongolia’s long-term Vision 2050 development plan, both of which prioritize sustainability, innovation, and energy independence.

---

Unlocking Green Investment and Energy Security

Under the new agreement, EIB Global will work with Mongolian ministries and stakeholders to identify and prepare priority projects in key sectors, with a primary focus on clean energy, private sector development, and infrastructure modernization.

The partnership’s goal is to help Mongolia diversify its energy mix and reduce its reliance on coal, which currently accounts for nearly 90% of the country’s electricity generation. This shift is critical as Mongolia faces growing energy demand from its mining, agriculture, and industrial sectors, as well as from rapid urbanization in cities like Ulaanbaatar.

The EIB’s potential €1 billion investment could support:

• Wind and solar power generation, tapping Mongolia’s vast renewable potential in the Gobi Desert and western provinces;

• Modernization of power networks, improving grid efficiency, reliability, and regional connectivity;

• Sustainable transport and logistics, including cleaner mobility in urban areas;

• Energy-efficient infrastructure for communities and industries;

• Private sector initiatives that stimulate innovation and green job creation.

While the €1 billion figure is indicative and not a binding commitment, it underscores the scale of investment Europe is ready to mobilize in support of Mongolia’s green growth.

---

Shared Vision for a Sustainable Future

The agreement aligns closely with Mongolia’s Vision 2050, the country’s long-term strategy to achieve inclusive growth, reduce poverty, and build a diversified, low-carbon economy. For the European Union, it represents a concrete example of the Global Gateway strategy in action — strengthening global partnerships for clean, secure, and affordable energy.

“Mongolia has vast potential for renewable energy, from wind and solar to infrastructure designed for sustainability and climate resilience,” said EIB Vice-President Teresa Czerwińska, who oversees the Bank’s operations in Mongolia. “By partnering under the Global Gateway framework, we can help accelerate the country’s green transition, strengthen energy security and create opportunities for communities and businesses.”

Echoing these sentiments, EU Ambassador to Mongolia Ina Marčiulionyte said:

“This memorandum deepens the strategic partnership between the European Union and Mongolia while delivering real benefits for people and communities. By combining European expertise with Mongolia’s renewable potential, we are advancing innovation, energy security and sustainable growth that create quality jobs, build essential skills and strengthen the country’s role in the region.”

---

Mongolia’s Commitment to Energy Diversification

Mongolia’s leadership hailed the MoU as a defining step in the country’s path toward energy resilience and sustainability.

“Diversifying our energy mix and ensuring secure and affordable power for households and firms is a national priority,” said Deputy Prime Minister Dorjkhand Togmid. “The partnership with EIB Global and the European Union – unlocking up to €1 billion – will help Mongolia harness its renewable potential, support private sector development, modernise our power systems, and create jobs in the green economy.”

The country’s geographic and climatic conditions make it one of the most promising renewable energy frontiers in Asia. With 300 days of sunshine annually and strong wind resources, Mongolia could potentially generate many times its domestic energy needs through renewables, positioning itself as a future clean energy exporter to the wider region.

---

Supporting Mongolia’s Green Transition

The EIB Global-Mongolia partnership will focus not only on investment financing but also on technical cooperation, including project preparation, feasibility studies, and capacity building.

Planned areas of cooperation include:

• Renewable energy deployment through large-scale solar and wind projects;

• Grid modernization to integrate renewable sources and improve reliability;

• Energy efficiency in buildings and industries;

• Sustainable urban transport solutions to reduce emissions in Ulaanbaatar;

• Climate-resilient infrastructure that supports long-term adaptation goals.

EIB Global will also promote private sector participation and leverage co-financing opportunities with EU institutions, other multilateral banks, and international investors.

---

EU Global Gateway and Vision 2050: A Converging Agenda

This partnership exemplifies the synergy between EU and Mongolian priorities. The EU’s Global Gateway aims to mobilize up to €300 billion globally by 2027 for sustainable infrastructure, digitalization, clean energy, and human development. Meanwhile, Vision 2050 emphasizes diversification, innovation, and environmental stewardship as the cornerstones of Mongolia’s long-term development.

By connecting these two frameworks, EIB Global’s engagement provides a model for how European investment can empower local development goals, promote climate action, and strengthen economic resilience.

---

A Growing European Presence in Mongolia

The MoU also marks a new phase in EU–Mongolia relations, which have expanded significantly over the past decade. The European Union has supported Mongolia through cooperation in governance, trade facilitation, and climate resilience, and the EIB’s potential financing will further elevate this partnership.

The first Mongolia–EU Business and Investment Forum, where the agreement was signed, showcased growing European interest in Mongolia’s renewable energy, critical raw materials, and transport sectors. It also highlighted Mongolia’s strategic location as a bridge between Europe and East Asia, making it an emerging player in regional connectivity and sustainable resource development.

---

Looking Ahead: From Vision to Action

Under the new memorandum, EIB Global and the Mongolian government will work together to develop a pipeline of eligible projects that meet sustainability, social, and environmental standards. Investment volumes will depend on project readiness and co-financing potential, with active support from the European Union.

The EIB’s engagement in Mongolia will emphasize transparency, environmental safeguards, and alignment with the Paris Agreement. Projects developed under this framework will also contribute to the United Nations Sustainable Development Goals (SDGs) — particularly SDG 7 (Affordable and Clean Energy), SDG 9 (Industry, Innovation and Infrastructure), and SDG 13 (Climate Action).

---

A Partnership for People and Planet

The EIB Global–Mongolia partnership signals a shared commitment to a green, inclusive, and resilient future. By investing in renewable energy, sustainable transport, and modern infrastructure, the collaboration will bring tangible benefits to people and communities — cleaner air, reliable power, new jobs, and enhanced quality of life.

As Vice-President Teresa Czerwińska concluded, this is more than a financial partnership:

“It’s about empowering Mongolia’s energy transition, supporting its people, and ensuring that sustainable growth benefits everyone — from local entrepreneurs to future generations.”