Mongolia and The Nature Conservancy Launch Project Finance for Permanence  Initiative

The Government of Mongolia, The Nature Conservancy (TNC), and others, have announced the launch of Eternal Mongolia – a Project Finance for Permanence (PFP) initiative that will deliver lasting conservation and sustainable community development for the Central Asian country.

Eternal Mongolia is a negotiated partnership that will deliver US$198 million of new investment over 15 years to support Mongolia’s ambitious goals and deliver lasting conservation and sustainable community development in and around protected areas.

This includes a US$71 million transition fund from private and other global donor sources. This transition fund will accelerate Mongolia’s conservation and community development goals, while providing time to develop sustainable financing mechanisms to ensure protected areas can be managed sustainably in the long-term and that Mongolian people benefit from nature, now and for the future.

Eternal Mongolia will dramatically expand and strengthen the effectiveness of the country’s entire National Protected Area network, support sustainable herding practices, invest in the sustainable tourism industry, and set an unprecedented example to the rest of the world about the value of land and freshwater conservation.

The PFP will support local community-driven proposals to safeguard an additional 14.4 million hectares of Mongolia’s lands and waters including intact grasslands, forests, deserts, wetlands and rivers; strengthen the management of all of Mongolia’s National Protected Areas covering 47 million hectares; and extend sustainable and climate-resilient community-managed practices to 34 million hectares outside protected areas.

“Climate change is here. Mongolians are already experiencing more frequent and severe climate-induced disasters like harsh winters, droughts, and dust storms. Mongolia’s average annual temperature has increased by 2.25C over the last 80 years, more than anywhere else on earth, and we’ve just endured the worst dzud year yet, with millions of livestock lost and people’s livelihoods ruined,” said Bat-Erdene Bat-Ulzii, Minister of Environment and Tourism.

“With Eternal Mongolia, we see a proven tool to tackle the impacts of climate change. The PFP will work to boost the green economy, support the growth of nature-based tourism—the fastest growing sector— and invest in sustainable livelihoods.”

Eternal Mongolia is based on a negotiated agreement and shared plan that identifies the activities needed to deliver Mongolia’s ambitious conservation and community development goals.

Through Eternal Mongolia, TNC and the government will work together to develop finance mechanisms that will provide the funding needed to deliver lasting conservation and sustainable community development.

Donor funding will be managed by the Mongolian Nature’s Legacy Foundation, an independent conservation trust fund set up specifically for the Eternal Mongolia PFP. Government funding will continue to be managed by the Government.

As well as protected, rare, and threatened wildlife, Mongolia’s grasslands are home to 200,000 nomadic herding families, some of the last remaining nomadic cultures on Earth.

“The success of Eternal Mongolia is not solely about protecting Mongolia’s landscapes but doing so in a way that honours and values generations of traditional knowledge while building sustainable livelihoods and futures,” said Munkhbat Tserendorj, Executive Director for Homyn Talyn Takhi NGO. “Mongolia’s nomadic herding families are integral to the success of Eternal Mongolia, and their leadership is critical to how these protected areas will be maintained for years to come.”