Project Finance for Permanence
"Eternal Mongolia"
PFP
A 15-year, USD 197.8 million program to permanently protect Mongolia's nature, implemented by MNLF in partnership with the Government of Mongolia and The Nature Conservancy.
Eternal Mongolia
$197.8 million to conserve,
Mongolia's landscapes,
rivers, and wildlife
Eternal Mongolia is a Project Finance for Permanence (PFP) program, a $71 million donor fund from global donors paired with $127 million in domestic commitments.
How it began
The road to Eternal Mongolia
- 2022 Ulaanbaatar, 2022
President of Mongolia Khurelsukh U. receives Jennifer Morris, Chief Executive Officer of The Nature Conservancy, for a presentation on the Eternal Mongolia PFP initiative.
- 2023 COP28, Dubai, 2023
President of Mongolia Khurelsukh U. meets with Jennifer Morris, Chief Executive Officer of The Nature Conservancy.
- 2023 Ulaanbaatar, December 2023
Meeting between the Government of Mongolia, The Nature Conservancy and the World Wildlife Fund for Nature on the Eternal Mongolia PFP.
- 2024 Mongolia, 22 April 2024
Eternal Mongolia PFP agreement signing by Bat-Erdene B., then Minister of Environment and Tourism; Boldoo M., Board Chair of MNLF; and Jennifer Morris, Chief Executive Officer of The Nature Conservancy.
The Nature Conservancy Apr 2024
Mongolia launches USD 198 million Eternal Mongolia programme
The Government of Mongolia, TNC and MNLF sign a tripartite agreement launching the 15-year programme.
Read →Enduring Earth Apr 2024
Eternal Mongolia joins the global Enduring Earth portfolio
Mongolia becomes a flagship PFP alongside programmes in Canada, Brazil, Colombia, Kenya, Gabon and Namibia.
Read →Ministry of Environment & Climate Change 2025
MECC announces 30% protected area commitment by 2030
Mongolia commits to expanding its national protected area network to cover 30% of the country's territory.
Read →What is PFP?
Securing Mongolia's rich cultural and ecological heritage is an environmental necessity and an economic opportunity. Eternal Mongolia brings funding and support to achieve a sustainable future for the country.
The Eternal Mongolia Project Finance for Permanence (PFP) is a long-term conservation finance initiative that secures US$198 million over 15 years through a tripartite partnership between the Government of Mongolia, The Nature Conservancy (TNC), and the Mongolian Nature’s Legacy Foundation (MNLF), established in April 2024.
Preparatory work began in 2020, led by the President’s Office, the Ministry of Environment and Climate Change (MECC), The Nature Conservancy (TNC), among other partners, laying the foundation for successful program implementation through fundraising, planning, negotiations, and the establishment of MNLF.
By securing long-term funding and introducing innovative financing mechanisms, the Mongolia PFP aims to expand and effectively manage Mongolia’s protected areas while supporting sustainable livelihoods for local communities now and for generations to come.
Total Program Funding
USD 197.8M
15 years · 2024–2038
30% Protected Area by 2030
14M Hectares to be added
24K Herder households
A tripartite partnership
Eternal Mongolia PFP
Four Programmatic Goals
The programme aims to deliver the following goals in line with the 8 conservation milestones through policy and grant tracks.
PFP Milestones, 2025–2032
Milestones on the way
In addition to the financing commitments, the PFP partners have committed to reaching the following ambitious milestones in line with Mongolia's priority conservation targets.
- 31 Dec 2025
Collaborative natural resource management
A function for collaborative management of natural resources will be added into the strategy and structure at the central state administrative authority in charge of environment.
- 1 Jan 2027
Sustainable finance mechanism
The Government of Mongolia shall implement a Sustainable Finance Mechanism by increasing the entry fees of Protected Areas in stages.
- 31 Dec 2027
Herder resilience policy
A policy document empowering herders’ sustainable grazing, resilience and adaptation to climate changes shall be developed with the Ministry of Food, Agriculture and Light Industry and the Ministry of Environment and Climate Change, as per the procedures defined under Government Resolution No. 216 of 2020.
- 31 Dec 2027
Resource revenue for conservation
A percentage of revenue from natural resource fees will be allocated for nature protection and restoration measures in accordance with the Financial Model as required by applicable law, and the corresponding report will be disclosed to the public.
- 31 Dec 2028
Protected areas law reform
An amendment to the Law on Special Protected Areas shall be submitted to the Parliament to (1) make the classification of Protected Areas in Mongolia consistent with international practice and international protection management standards, and (2) provide for conservation management, wholly or partially, by agreements with NGOs focusing on environmental protection.
- 31 Dec 2028
Full sustainable finance rollout
The Government of Mongolia shall implement Sustainable Finance Mechanisms in accordance with the Financial Model.
- 31 Dec 2030
30% of Mongolia under protection
The Government of Mongolia shall expand the National Protected Areas network to cover 30% of Mongolia’s total territory, and achieve the implementation of the 51st indicator outlined in the ‘Key Indicators and Targets for Monitoring and Evaluation’ of the “Vision-2050” Long-Term Development Policy of Mongolia, as approved in Appendix 3 to Resolution No. 52 of the State Great Khural of Mongolia dated May 13, 2020.
- 31 Dec 2032
Management plans and effectiveness
Management plans for National Protected Areas (including newly established nationally protected areas) will be developed based on internationally recognized methodologies, and management effectiveness will be assessed regularly.
Funding Structure
The PFP Financing Model
Donor funding 0%
Public and other funding 100%
Y10 USD 126.8M Steady
Implementation phase
The Project Finance for Permanence (PFP) model is a transformative approach designed to secure the permanent protection, effective management, and sustainable funding of conservation areas at the national scale. It mobilizes governments, local communities, private and public funders, through a single, binding agreement that aligns everyone under shared ecological and development objectives and integrated financial models.
Under the Eternal Mongolia PFP, partners committed to deliver $198 million of new investment in conservation and community economic development over 15 years. This includes:
- US $71 million of donor funding from TNC through private and other global sources, split into i) a US$21 million endowment fund, ii) a US$50 million transition fund.
- US $127 million of government funding to be secured in the coming 15 years through improved and new sustainable financing mechanisms (SFM) by the government.
Sustainable Financing
Five mechanisms to fund conservation, permanently
The $127 million dollars committed by the Government of Mongolia under the Eternal Mongolia PFP, will be generated by building domestic revenue systems tied directly to conservation outcomes. Several sustainable financing mechanisms (SFMs) are currently explored:
PA Entry Fees & Revenues
Fees from protected area visits, scaling with visitor volume and category.
New Conservation Levy
A conservation fee charged on every tourist visiting Mongolia.
Nature Resource Use Fees
Strengthened implementation of fees for resource extraction and land use.
Biodiversity Offsets & Credits
Corporate income tax exemptions linked to biodiversity offset commitments.
Nature-Based Tourism Infrastructure
Strategic investment in visitor infrastructure at model protected areas.
Map
Protected areas and
the communities around them
National protected areas, and the 8,425 community-based organisations working across the landscape. Switch between them with the tabs; turn layers on and off in the panel.
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© Esri, Maxar · MECC, eic.mn
Global Context
Mongolia is part of a global movement
The “Eternal Mongolia” PFP is part of the global Enduring Earth partnership founded by TNC, The Pew Charitable Trusts, World Wildlife Fund and ZOMA LAB, which supports and advances around 20 PFP initiatives around the world. The PFP mission is to prove that what we protect together endures.
Around 20 PFP initiatives around the world, aiming to protect 600 million hectares of land. Mongolia is one of the flagship implementations alongside programs in Canada, Brazil, Colombia, Kenya, Gabon, and Namibia.
Explore Enduring EarthDrag to spin
~20 PFP initiatives around the world
600M Hectares to be protected globally
108+ Conservation Trust Funds globally
Initiative
Nature Positive
Business Coalition
Closing a USD 10M/year biodiversity financing gap, by mobilizing Mongolia's private sector.
0
leading Mongolian companies in Phase 1
0
target year to become Nature Positive
0M
USD per year biodiversity financing gap
0
activity pillars, governance to CSR
Target sectors
Six activity pillars
Governance & Policy
Nature Risk Reporting
Green Investment
CSR & Offsetting
Capacity Building
Public Awareness
Eternal Mongolia
Technical Coordination Committee
The PFP Technical Coordination Committee is responsible for overseeing Eternal Mongolia's progress toward its goals and the use of allocated financial resources, while ensuring alignment with national priorities and international commitments.
Ts. Uranchimeg Director General, Department of Protected Areas Policy, Ministry of Environment and Climate Change
T. Baljinnyam Director General, Department of Natural Resources Policy and Sustainable Use, Ministry of Environment and Climate Change
B. Amarbayasgalan Director, Financial Markets and International Cooperation Division, Ministry of Finance
Ts. Munkhnasan Specialist, Department of Livestock Policy Implementation, Ministry of Food, Agriculture and Light Industry
S. Purevsuren Head, Green Finance Division, Ministry of Economy and Development
Yu. Bayarjargal Conservation Director, The Nature Conservancy Mongolia
B. Chimeddorj Conservation Director, World Wildlife Fund (WWF) Mongolia
B. Oyungerel Independent Consultant on Protected Areas
U. Tungalag Director, ZS Luujin NGO; Consultant on Community-Based Conservation
S. Amgalanbaatar Director, Argali Research Center
Ts. Munkhbayar CEO, Mongolian Investment Rating Agency LLC
Eternal Mongolia
Project Coordination Unit
The Eternal Mongolia PCU manages the day-to-day implementation of the activities, commitments and measures carried out by the government institutions involved in the implementation of the PFP, under joint guidance from the Ministry of Environment and Climate Change and MNLF.
Amartuvshin Sanjmyatav
PCU Coordinator
Namuunaa Munkhbat
Protected Area Network Specialist
Ochirkhuyag Jargalsaikhan
Protected Area Management Specialist
Khulan Saruulzam
Project and Partnership Specialist