IFC mulls financing package of up to $70m for Mongolia's Khan Bank

IFC/World Bank HQ. Photo: IFC

The International Finance Corporation (IFC), a member of the World Bank Group, has proposed to extend a five-year financing package of up to $70 million to Mongolia-based lender Khan Bank, according to a disclosure.

The financing package entails subscription to a five-year US dollar-denominated green bond of up to $30 million, and provision of five-year sub-debt of up to $40 million from IFC’s own account. The green bond will represent the first issued by a private sector company in the country.

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