On June 18, the Asian Development Bank (ADB) issued a MNT-denominated bond worth MNT 55.8 billion (approximately USD 15.6 million) to support a dairy production project in Mongolia.

This bond marks the largest MNT-denominated issuance by ADB to date. With a tenor of 6.1 years and a coupon rate of 10.3%, it is also the longest-dated and highest-value MNT bond since ADB’s inaugural “Nomad” bond issued in 2020.

The proceeds from the bond will be used to finance the dairy production project implemented by APU Dairy LLC, specifically for:

🏭 Construction of a new factory
🥛 Expanding milk processing and packaging capacity
🐄 Establishing raw milk collection points
💰 Financing working capital and related needs

Earlier this year, in April, ADB also issued its first education bond in Mongolia—worth MNT 45.7 billion (approximately USD 13.1 million)—to support the country's ongoing education sector projects.