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3 Awards for the “Ulaanbaatar Green Affordable Housing and Resilient Urban Renewal Project” funded by the Asian Development Bank

18.04.2019

3 Awards for the “Ulaanbaatar Green Affordable Housing and Resilient Urban Renewal Project” funded by the Asian Development Bank

  • Most innovative and efficient project of East-Asia Department
  • Best Bank wide "finance ++" project, rewarding the best combination of excellent financing structure, financing leverage, and knowledge.
  • Best Bank wide co-financing project for its climate finance component.

The project aims to restructure ger areas in Ulaanbaatar, where more than 600,000 people live in precarious housing conditions (no access to drinking water and sanitation, soil pollution, use of wells and coal stoves heating).

These former nomads’ populations have migrated to the city over the past 20 years, have no training for “urban” jobs and low incomes.

The lack of an operational development plan combined with the law on the distribution of land have resulted in districts being characterized by low population densities, the absence of public infrastructure and facilities (schools, health centers, sports facilities, etc.) and a lack of road system (poor mobility and poor connections to main development axes)

The project led by the Asian Development Bank and the Municipality of Ulaanbaatar mobilizes the private sector (real estate developers and commercial banks), co-financiers such as the Green Climate Fund, and residents who contribute with their land, to transform these ger areas into an eco-neighborhood.

This eco-neighborhood with affordable housing for local populations will make it possible to accommodate populations from other districts and thus increase density and also to develop rental spaces for shops, green spaces, public facilities, heating, drinking water and sanitation networks.

A major project that the ADB president mentioned a few weeks ago, in his end-of-year speech ►  https://www.adb.org/news/speeches/2018-staff-appreciation-event-takehiko-nakao

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