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On October 11th, 2019 Mongolian Mortgage Corporation HFC (MIK HFC) signed a Memorandum of Cooperation (MoC) with Japan Housing Finance Agency (JHF) in Tokyo, Japan. 


 Picture. Left to right: MIK HFC’s CEO Gantulga.B, Japan Housing Finance Agency’s President Toshio Kato


The scope of the MoC is aimed towards collaborating on traditional and green housing markets, to define innovative solution on funding sources, leverages for developing the primary and secondary housing finance system, while conducting the respective policy research, exchanging information on green housing project programs and identifying solutions to adversities. 


During the signing ceremony, Gantulga.B remarked “There is a real need for expansion in the Mongolian housing market and green bond financing is a potential source of funding. MIK HFC aims to gain an understanding of the criteria and requirements needed to raise green bonds on the international capital market from Japan’s undertaking, and opportunities for cooperation”. Additionally, he also mentioned and the numerous projects that have been implemented to improving Ulaanbaatar city development plan, and infrastructure, within the scope of Japan’s official assistance and expressed willingness to contribute to the development of bilateral relations. Which was met with a positive response from the President of Japan Housing Finance Agency, Toshio Kato, who remarked “To enable JHF to further develop the area of Green Financing which we believe MIK HFC has strong interest, JHF would like to receive valuable feedback from MIK HFC and foster cooperation and knowledge-and-experience sharing in the area of Green Financing together with our partner, MIK, as stipulated in the MOC to be concluded today”


In January 2019, Japan Housing Finance Agency issued its first Green bond, with the purpose of financing housing for energy-efficient houses. Currently, they have issued a total of JPY70 billion (MNT1.7 trillion) in green bonds.


           Within the scope of supporting the housing market and housing finance, MIK HFC has been expanding its cooperation with public and private housing finance agencies in Asia. 

The organizations that MIK HFC has signed MoUs with include the following: