Accelerating Climate Investment Program (Subprogram 1)

Approved

The Government of Mongolia (GoM) has requested assistance from the Asian Development Bank (ADB) to support a set of complementary medium-term structural reforms addressing climate change as its core objective. The proposed Accelerating Climate Investment Support Program will support Mongolia to strengthen the policy, planning and financing direction of GoM to accelerate investments in adaptation and mitigation priorities identified in its National Adaptation Plan (NAP) and Nationally Determined Contributions (NDC) to the United Nations Framework Convention on Climate Change. The program will contribute to Mongolia's NDC Action Plan and will build on ADB supported investments in climate action. It is aligned with the ADB's Strategy 2030 and will support the implementation of operational priority 3 on tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability. It will also support strategic priority 3 of ADB's Country Partnership Strategy (CPS) for Mongolia on resilience for sustainable, green, and climate-conscious development, and contribute to Sustainable Development Goal (SDG) 13 on taking urgent action to combat climate change and its impacts. It is also anchored in ADB's Climate Change Operational Framework, 2017-2030, which defines how ADB can facilitate a shift onto a development path that is climate-resilient and low in greenhouse gas (GHG) emissions, in line with the Paris Agreement, the Sustainable Development Goals, and the Sendai Framework for Disaster Risk Reduction.