The multilateral Asian Development Bank (ADB) recently issued a local-currency, three-year bond in Mongolia with a face value of MNT 13.7 billion (USD 4 million) and a coupon rate of 11.25 percent paid out semi-annually. The proceeds are to fund Invescore, a non-banking financial institution in Mongolia, to
Tag: Mongolia
MICROFINANCE PAPER WRAP-UP: “Establishing a Financial Services Ombudsman in Mongolia: Experiences and Lessons from Armenia, Australia and Singapore,” by Massimiliano Gangi et al
This paper explores the potential of introducing an independent ombudsman system to address complaints by consumers against financial services providers (FSPs) in Mongolia by exploring existing dispute resolution systems in Armenia, Australia and Singapore.
Among the similarities of these three systems are:
MICROCAPITAL BRIEF: Khan Bank Raises $10m in Bond Sale to Vision Microfinance Dual Return Fund to Support Women’s SMEs in Mongolia
Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle- income countries, recently facilitated a bond issue channeling USD 10 million to Khan Bank, which serves individuals and companies of all sizes in Mongolia, to support UN Sustainable Development Goal (SDG) 5: Gender Equality. Impact Asset Management (I-AM), a unit of Austria’s C-Quadrat Investment Group, bought the bond through its Vision
MICROCAPITAL BRIEF: C-Quadrat Impact Asset Management (I-AM) Loans $20m from Dual Return Vision Microfinance Funds to MFIs in 8 Countries
Impact Asset Management (I-AM), a unit of Austria’s C-Quadrat Investment Group, recently announced it lent a total of USD 20 million to microfinance institutions (MFIs) in China, Mexico, Mongolia, Nepal, Peru and three other countries through its Dual Return Funds during July 2022. I-AM has
MICROCAPITAL BRIEF: Khan Bank Borrows $6m from MicroVest for SMEs in Mongolia
MicroVest, a debt-focused asset manager owned by US-based DAI Global, recently agreed to lend USD 6 million to Khan Bank, which serves individuals and companies of all sizes in Mongolia. The goal of the loan is to boost
MICROCAPITAL BRIEF: Khan Bank of Mongolia Borrowing $120m from FMO, Atlantic Forfaitierungs, DEG, IIB, PROPARCO – Part for MSME Loans, Green Capacity
Khan Bank, which serves individuals and companies of all sizes in Mongolia, recently agreed to accept a borrowing package of USD 120 million arranged by Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership. FMO is funding
MICROCAPITAL BRIEF: IIV Disburses $18m to Khan Bank of Mongolia, Including for On-lending to MSMEs Developing Post-COVID Business Models
Germany’s Invest in Visions (IIV), under the advice of Belgium-based Incofin Investment Management, recently lent USD 18 million to Khan Bank of Mongolia from the fund IIV Mikrofinanzfonds. The proceeds primarily are slated for on-lending to micro-, small and medium-sized enterprises (MSMEs), especially
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considers $25m Loan to Mongolia’s Khan Bank for Micro-, Small, Medium-Sized Enterprises (MSMEs)
The European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, is reviewing a proposal to invest USD 25 million in Khan Bank, a Mongolian institution, to provide funding for micro-, small and medium-sized enterprises (MSMEs) in Mongolia. Khan Bank classifies 51 to 60 percent of its operations as microfinance. The EBRD board of directors will consider the proposal in July 2013.