IFC’s integrated advisory and investment strategy in Mongolia, delivered through its office in Ulanbaataar with the support of global resources in a wide range of industries, focuses largely on four broad areas.
The first area is the development of Mongolia’s financial sector. This includes investments to support banking consolidation, increase banks’ lending volumes to target underserved segments, and expand product and service offerings in the market, as well as institutional strengthening and advisory efforts to improve risk management and spread best practice lending standards. IFC has completed 11 financial sector transactions for a total amount of US$68 million in 5 financial institutions in Mongolia
The second area of focus is to support the development of Mongolia’s natural resources sector. This entails engaging with the government, the World Bank and other development institutions to develop an equitable regulatory and sustainability framework for the development of Mongolia’s natural resources. Central to this strategy is promoting transparency in the long-term deployment of government revenues and building linkages with local communities. IFC will also play a catalytic investment role in providing project financing for the main resource development projects in Mongolia.
The third area is the development of Mongolia’s infrastructure, with a particular focus on power (including renewable energy), transport and water treatment. IFC’s advisory services group is working closely with the government and the World Bank to develop options for public-private initiatives.
The fourth area is to support the development of Mongolia’s industrial base and agribusiness sector as the key impetus for broad-based and sustainable economic growth. On the advisory side, IFC supports the development of the overall private sector by removing constraints and bottlenecks in the business enabling environment, and promoting improved corporate governance standards and practices.
Mongolia has been an IFC member since 1991.
