The Mongolian Sustainable Finance Association (MSFA) joined SBN in September 2020. MSFA was established in 2017 by the Mongolian Bankers Association, building on the success of the Mongolian Sustainable Finance Initiative that started in 2013 with IFC's support. In 2019, MSFA coordinated the development of the Mongolia Green Taxonomy. In 2020, MSFA served as one of the SBN IDA Task Force co-chairs, which delivered the recent report “Necessary Ambition: How Low-Income Countries Are Leveraging Sustainable Finance to Address Poverty, Climate Change, and Other Urgent Challenges.”
The mission of MSFA is to foster Mongolia as a regional sustainable finance knowledge hub by helping members integrate ESG and sustainability practices in their operations and promoting green and climate finance. One of MSFA's main objectives is to expand sustainable finance beyond the banking sector, to include microfinance, capital markets, and insurance. SBN and IFC look forward to supporting Mongolia and MSFA in these efforts through global knowledge sharing and country-level technical assistance.