EBRD Backs $43.2 Million Investment for Sustainable Healthcare in Mongolia

EBRD Backs $43.2 Million Investment for Sustainable Healthcare in Mongolia

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) is bolstering Mongolia’s healthcare sector with a $43.2 million sovereign loan and a €5 million capital grant to the Government of Mongolia for the construction of a modern 250-bed hospital in Darkhan. With a focus on improving healthcare access and reducing mortality rates, the project aims to provide advanced medical services locally, enhance energy efficiency, and achieve EDGE certification for sustainable construction. Additionally, the EBRD will support initiatives to address gender-based violence and harassment, further promoting equitable healthcare access. Supported by technical assistance and a partnership with the government of Japan, this investment underscores EBRD’s commitment to sustainable development in Mongolia, where it has already invested over €2.3 billion through 140 projects, predominantly supporting private-sector companies.

(PRESS RELEASE) LONDON, 29-Apr-2024 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD) is investing in Mongolia’s public healthcare sector by extending a sovereign $43.2 million (€40.3 million) loan and a €5 million capital grant, to the Government of Mongolia. Funds will be used to design, build, and equip a new 250-bed hospital in Darkhan.

Improving access to healthcare and reducing mortality from cardiovascular and oncological diseases are among the top strategic priorities of Mongolia. The country’s public health infrastructure is generally outdated and is need of sustained investment to tackle its challenges.

The EBRD financing aims to improve the quality of hospital services by supporting the construction of a modern regional hospital that will make advanced medical technologies, new diagnostic tools, and treatments for the leading causes of death in Mongolia available locally in Darkhan.

In addition to boosting access to modern healthcare services, the new building will be greener, delivering higher standards of energy efficiency, water conservation and the use of sustainable materials in construction.

Ultimately, the project aims to secure the international Excellence in Design for Efficiencies (EDGE) certification. Once compliant with the international standards, the hospital building will set the bar for the sector by becoming the first EDGE-certified [regional] public building in the country.

As part of the cooperation, the EBRD will also help promote access to quality healthcare for women by introducing a Gender Base Violence and Harassment (GBVH) awareness campaign and other efforts, including the availability of playrooms with dedicated staff to take care of the patients’ children.

The investment is supported by technical assistance from the EBRD Sustainable Infrastructure Fund and the government of Japan.

As of April 2024, the EBRD has invested over €2.3 billion in Mongolia’s economy through 140 projects. Around 90 per cent of these funds have been channelled to support private-sector companies.

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SOURCE: EBRD