FIF - YiB CA - Golomt Bank Loan I

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

The provision of a 3-year senior loan of up to $8 million to Golomt Bank JSC ("GB") under the FIF Youth in Business Programme in Central Asia ("YiB CA")

Project ID 55935

Status Approved

Location

Mongolia

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Mrs. Enkhzaya Bayarsaikhan Director of International Banking
enkhzaya_b@golomtbank.com
+976 7575-1111 /1553/
+976 11-313155
https://golomtbank.com/en
Head office of Golomt Bank, D.Sukhbaatar Square 5, P.O.Box 22, Ulaanbaatar 15160, Mongolia

Project ID 55935

Status Approved

Location

Mongolia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

22 Aug 2025

Disclosure date

01 Sep 2025

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

The provision of a 3-year senior loan of up to $8 million to Golomt Bank JSC ("GB") under the FIF Youth in Business Programme in Central Asia ("YiB CA")

Project Objectives

The proceeds of the Bank's loan will be used for on-lending to eligible micro, small and medium-sized enterprises led by young people under the age of 35 (Youth MSMEs) in line with the eligibility criteria set forth in the YiB CA Policy Statement. In addition, GB will track all beneficiaries under the YiB CA by gender and has committed to ensuring that at least 30 per cent of all sub-borrowers will be women.

Transition Impact

ETI score: 71

The proposed project under the Youth in Business in Central Asia Programme will contribute to the CA YiB objectives and support its Inclusive (Primary) and Competitive (Secondary) qualities. The project is expected to increase lending to Youth MSMEs, facilitate GB's capacity building and promote the transfer of skills to young business owners and managers in the country.

Client Information

GOLOMT BANK JSC

A new client, Golomt Bank JSC ("GB" or "Golomt") is the second largest commercial bank in Mongolia with total assets of USD 4.5bn, loan portfolio of USD 2.1bn, equity of USD 418m and a 21.6% market share as of YE2024. The bank is currently rated B2/stable by Moody's and B+/stable by S&P and Fitch.

EBRD Finance Summary

USD 8,000,000.00

A senior loan of up to $8 million.

Total Project Cost

USD 8,000,000.00

$8 million.

Additionality

Innovative financing structures and/or instruments: The project will benefit from a Performance Based Compensation (PBC), which is a tailor-made and innovative instrument in the Central Asian market.

Financing structure: the EBRD provides local currency financing on terms, which are not readily available in the market.

Standard setting: through a combination of elements (financing; PBC; TC), the YiB CA will help GB raise its inclusive financing standards by generating a better awareness and understanding of the needs of the underserved segment of young entrepreneurs. Ongoing support and collaboration with the YiB TC consultant, vital for introducing innovative products, will enable the PFI to further refine and advance its offerings and delivery mechanisms, ensuring they better meet the needs of young entrepreneurs.

Gender SMART: The persistent gender gaps in youth entrepreneurship in Mongolia will be addressed through dedicated TC to GB that will help develop a gender-responsive approach to youth focused lending, thereby ensuring that youth outreach is designed for both young women and men.

Knowledge, innovation, and capacity building: The programme includes extensive capacity building, comprising training, advisory support for PFIs and for Youth MSMEs through activities of the Advice for Small Business (ASB) team, allowing all parties to access and benefit from knowledge and expertise that may not be present in the local market.

Technical Cooperation and Grant Financing

The CA YiB includes two linked TC components:

(i) Tailored capacity-building for participating financial institutions:
Funding source: SSF and Japan;
Amount/currency: EUR 3.44m at the CA YiB Programme level;
Funding status: Confirmed.

Client contribution: It is expected that Golomt will make a "parallel" contribution of up to EUR 10,000 towards the TC programme, covering costs in connection with seminars, events, marketing activities and materials, which may be used for training and promotion of YiB-related products.

(ii) Capacity-building for Youth MSMEs via the ASB:
Funding source: SSF;
Amount/currency: EUR 6m at the CA YiB Programme level;
Funding status: Confirmed.

Company Contact Information

PSD Last Updated

01 Sep 2025

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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FIF - YiB CA - Golomt Bank Loan I

Overview

Project timeline

Company Contact Information

Project Description

Project Objectives

Transition Impact

Client Information

EBRD Finance Summary

Total Project Cost

Additionality

Technical Cooperation and Grant Financing

Company Contact Information

PSD Last Updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)

FIF - YiB CA - Golomt Bank Loan I

Overview

Company Contact Information

Project Description

Project Objectives

Transition Impact

Client Information

EBRD Finance Summary

Total Project Cost

Additionality

Environmental and Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD Last Updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)