BEIJING, March 17 (Reuters) – Mongolia’s largest commercial bank, Khan Bank, has issued the first green bond in the country’s history, according to a joint statement from the lender and the International Finance Corporation on Friday.

The proceeds of the $60 million privately placed 5-year bond are earmarked to increase the bank’s lending to projects in sectors including renewable energy, energy efficiency, and climate-smart agriculture in Mongolia, according to the statement. (Reporting by Andrew Hayley; Editing by Muralikumar Anantharaman)