The volatility in the global financial markets following the U.S. credit rating downgrade and the eurozone debt crisis has put the spotlight on the need to strengthen financial institutions in emerging markets to withstand such pressures.
IFC’s $5 million loan to XacBank LLC in 2010 has helped the bank boost its capital and extend financing to more than 3,000 Mongolian small and medium enterprises, supporting jobs and stimulating economic growth.
IFC supports Mongolia’s sustainable economic development by investing and mobilizing capital for private sector clients as well as advising the government and firms to enhance business competitiveness. We engage with all key sectors of the Mongolian economy, from financial services and agribusiness to infrastructure and sustainable mining, in order to create jobs and diversify the economy.
Since IFC first opened our office in Ulaanbaatar in 1997, we have invested and mobilized more than $470 million.
Broadening Access to Finance
IFC invests in Mongolian financial institutions, particularly banks, and helps them build capacity to expand their services and access to finance for small and medium enterprises.
IFC promotes international corporate-governance and environmental and social standards through partnering with regulators, banking associations, and financial institutions.
We help build financial infrastructure, such as the establishment of an online registry for movable asset security, to facilitate more financing to smaller businesses.
Developing Infrastructure and Sustainable Mining
IFC invests in essential infrastructure, such as renewable power, telecom, and middle-income housing.
We support world-class sustainable mining projects to bring global financing, international technology, and best environmental practices to Mongolia.
IFC is working with partners across the mining sector to raise awareness and standards on water management in the South Gobi desert.
Supporting Economic Diversification and Smaller Businesses
IFC invests in agribusiness and supports long-term reform to promote food-safety standards, competitiveness, and market inkages.
IFC financed Ulaanbaatar’s first world-class hotel to enable tourism growth.
We partner with the Mongolian government on key reforms, such as streamlining permits and inspections, to strengthen the business climate, particularly for small and medium enterprises.
Tailored Advice – Adding Value Beyond Financing
SME banking, sustainable financing, and financial infrastructure