Ulaanbaatar, March 13, 2024. /MONTSAME/. On March 12, 2024, Deputy Minister of Environment and Tourism of Mongolia Ganbaatar Myagmarjav and Vice-President of European Investment Bank (EIB) Teresa Czerwińska signed a Memorandum of Understanding (MoU) on Forestry between the Government of Mongolia and the European Investment Bank. The Memorandum aims at reversing deforestation, increasing climate action, protecting biodiversity, and expanding sustainable forest management.

The new MoU will enable the EIB to support Mongolia-the EU Forest Partnership. It will help the country to better preserve existing forests and facilitate the development of a sustainable and inclusive economy and society under sound forest management that takes into account the needs of the local communities. Notably, Mongolia-the EU Forest Partnership supports tree planting in the implementation of the “One Billion Trees” Nationa Campaign initiated by President of Mongolia Khurelsukh Ukhnaa.

“Under the MoU, we will strengthen afforestation based on natural solutions, ecosystem restoration and taking into consideration agricultural practices, establishing large-scale agroforestry, and public-private partnerships in the forestry sector. We are looking forward to cooperation in developing environmentally friendly subsidies in a mutually beneficial way,” said Deputy Minister Ganbaatar Myagmarjav. 

Vice-President Teresa Czerwińska stated, “The European Investment Bank is jointly financing a project with the Asian Development Bank that will help to improve the quality of life for people in Mongolia through environmental improvements in the aimags. This project demonstrates a unique and innovative integrated approach for better urban and rural links, sustainable urban development, and rangeland management in Mongolia. It will upgrade the country’s infrastructure, benefiting the economic and social development and the competitiveness of the country’s main urban centers. The Memorandum of Understanding on Forestry that we have also signed today will provide a platform for cooperation to reduce deforestation and forest degradation, which will have a positive impact on Mongolia’s climate action efforts and economic development in terms of the production and trade of forest products.”

EU Ambassador to Mongolia Axelle Nicaise noted, “As Mongolia and the EU celebrate this year the 35th anniversary of their diplomatic relations, the strong engagement of the European Investment Bank in Mongolia is another demonstration of the EU’s commitment to work more closely with our Mongolian partners. The dramatic situation Mongolia is experiencing with the dzud this year confirms the urgency to put in place new schemes prioritizing sustainable development in aimags and soums, foster regional development, and take decisive actions to fight the effects of climate change. This is exactly what the projects signed today are about.”