• English
  • Deutsch
  • Français
  • Русский
  • News
  • Corporate and investor information
  • What We Do

    Sectors we work in

    • View list of sectors and key topics

    Project information

    • Project finder
    • Independent Project
      Accountability Mechanism

    What we provide

    • Products and services
    • Policy reform

    Operations and processes

    • Evaluating our work
    • Strategies and policies
    • Client due diligence
    • Comment on our work

     

    Key themes and topics

    • The war on Ukraine
    • The EBRD and digitalisation
    • EBRD Green
    • Coronavirus pandemic
    • Economic Inclusion
    • Food security
    • Securing Chernobyl site
    • Local currency

    Economic research

    • Economics at the EBRD
    • Office of the Chief Economist
    • Transition Report

  • Who We Are

    Background

    • History of the EBRD
    • Basic documents of the EBRD

    Contacts

    • View by country and department
    • Media enquiries

    Structure and staff

    • President Odile Renaud-Basso
    • Board of Governors
    • Board of Directors
    • Executive Committee
    • Senior leadership group

    Our values

    • Multiparty democracy and pluralism
    • Promoting transition
    • Environmental and social sustainability
    • Integrity and compliance
    • Backing gender equality
    • Transparency

    Partnering for impact

    • Donors
    • Civil Society
    • Alumni Association

  • Where We Are

    • Albania
    • Armenia
    • Azerbaijan
    • Belarus
    • Bosnia and Herzegovina
    • Bulgaria
    • Croatia
    • ​Czech Republic
    • Egypt
    • Estonia

    • Georgia
    • Greece
    • Hungary
    • Jordan
    • Kazakhstan
    • Kosovo
    • Kyrgyz Republic
    • Latvia
    • Lebanon
    • Lithuania

    • Moldova
    • Mongolia
    • Montenegro
    • Morocco
    • North Macedonia
    • Poland
    • Romania
    • Russia
    • Serbia
     

    • Slovak Republic
    • Slovenia
    • Tajikistan
    • Tunisia
    • Türkiye
    • Turkmenistan
    • Ukraine
    • Uzbekistan
    • West Bank and Gaza
     
     

  • Work With Us

    Project finance

    • Loans
    • Equity
    • The financing process
    • Why finance with us?
    • Eligibility checker
     

    Support for SMEs

    • Advice for businesses
    • Finance for businesses
    • Donor support
    • Flagship programmes
    • EBRD Know How Academy

    Procurement

    • Project procurement
    • Corporate procurement and
      Consultancy services

    Trade Finance

    • Trade Facilitation Programme
    • Trade Ready
     

    More ways to work with the EBRD

    • Capital Markets
    • Debt Mobilisation

    Careers

    • Working at the EBRD

     

  • News
  • Change language
  • Home
  • The EBRD in Mongolia – our work in pictures

The EBRD in Mongolia – our work in pictures

By Lucia Sconosciuto

26 Sep 2016

The EBRD has been working to change lives in Mongolia for a decade. Together with donors such as the European Union and the Early Transition Countries Fund, we support the private sector, boosting MSMEs (micro, small and medium-sized enterprises) and large enterprises; we improve the investment climate; and we promote sustainable, green growth.

Share this page:
  • The vast steppe
  • Promoting the private sector
  • Ulaanbaatar
  • Ger districts
  • Salkhit windfarm
  • Livestock farming
  • Ice cream
  • Local currency lending
  • Oyu Tolgoi
  • Cashmere
  • Women in business
  • Growing businesses
  • Sustainable growth
  • Donor support


The vast steppe

Nestled in the Eurasian steppe, Mongolia is one of the least densely populated countries in the world. The economy is heavily dependent on natural resources. Strengthening other sectors is a priority for the EBRD.

BACK TO TOP


Promoting the private sector

Reaching out to the private sector, we’ve invested more than €1.3 billion since we started work in 2006, in projects from energy and small business, to industry and financial institutions.

BACK TO TOP


Ulaanbaatar

Half the population is concentrated here, in the capital Ulaanbaatar. In recent years, foreign investors flocked in too, as the economy boomed – until factors such as an uncertain business climate and a global decline in commodity prices dampened enthusiasm. We’re working with the private sector and the government to restore growth.

BACK TO TOP


Ger districts

Modern Ulaanbaatar is surrounded by Ger districts –agglomerations of once-nomadic tents and small dwellings, lacking planning or municipal services. In winter, families burn coal for heating, blanketing the capital in smoke and making it one of the world’s most polluted cities.

BACK TO TOP


Salkhit windfarm

Clean energy is a priority. We participated in Mongolia’s first commercial windfarm project. Salkhit – meaning ‘Windy Mountain’ – generates about five per cent of the country’s needs: a big step forward.

BACK TO TOP


Livestock farming

For centuries, livestock of one sort or another have provided livelihoods for Mongolians. Milk producer Hishigten Nuudelchin has imported several hundred French-bred cows. It’s expensive in the long cold winter – but the farm has developed a link with dairy producer Teso to secure a steady income.

BACK TO TOP


Ice cream

From a single second-hand ice cream machine, six siblings have built Teso into a company that employs more than 1000 people. Donors to the EBRD are helping entrepreneurial successes like theirs become more resilient – and provide an example to others.

BACK TO TOP


Local currency lending

Foreign exchange risk is a significant disincentive to investment. With support from our donors, we’re promoting loans in the Mongolian currency – the tugrik – to small business and start-up owners like Gulmaira Akim with her workshop producing traditional textiles and handcrafts.

BACK TO TOP


Oyu Tolgoi

At the other end of the scale, we arranged a US$ 1.221 billion syndicated loan for mining operations in the world’s largest undeveloped copper and gold deposit. Oyu Tolgoi – meaning Turquoise Hill – will contribute as much as a third of Mongolia’s GDP.

BACK TO TOP


Cashmere

Another abundant resource is the wool from cashmere goats – and it’s one of Mongolia’s main exports. With EU support, we helped this producer, Mongol Noos, improve their accounts and management systems, making exports to markets like Japan and Italy much simpler.

BACK TO TOP


Women in business

Gerelmaa Enebish runs Molor Zam, a manufacturer of PVC insulated windows– a vital defence against the fierce Mongolian winters. Funded by the EU, our business advice and know-how has helped her put in place the conditions to expand her business.

BACK TO TOP


Growing businesses

Building work is under way at a new branch of Doctor Auto Chain, a company that sells car parts and accessories in a country with few real roads - and hence a lot of off-road driving. We helped the business raise its financial reporting to international standards.

BACK TO TOP


Sustainable growth

Since 2006, the EBRD has become one of the largest foreign investors in Mongolia. Our priorities are to diversify the economy, while supporting sustainable growth, responsible mining and institution building.

BACK TO TOP


Donor support

We couldn’t achieve this without generous support from our donors, who include the European Union, the and the Early Transition Countries Fund ( whose contributors include Canada, Finland, Germany, Ireland, Japan, Korea, Luxembourg, the Netherlands, Norway, Spain, Sweden, Switzerland, Taipei China and the United Kingdom).

From the EBRD in Mongolia: Bayarlalaa! (Thank you!)

BACK TO TOP
Share this page:
  • The vast steppe
  • Promoting the private sector
  • Ulaanbaatar
  • Ger districts
  • Salkhit windfarm
  • Livestock farming
  • Ice cream
  • Local currency lending
  • Oyu Tolgoi
  • Cashmere
  • Women in business
  • Growing businesses
  • Sustainable growth
  • Donor support
  • BACK TO TOP

Engage

  • Comment on a proposal
  • Report fraud, corruption and misconduct
  • Submit an environmental or
    social complaint
  • Give site feedback

Follow us

  • facebook.png
  • twitter.png
  • linkedin.png
  • instagram.png
  • youtube.png

Contact us

  • Request for Information
  • View all contacts
  • London HQ
  • Terms and conditions
  • Cookies
  • Sitemap