Translated version of this PSD: Mongolian
Project Description
A senior loan to Khan Bank of up to USD 30 million under the Financial Intermediary Framework ("FIF") for financing private MSME clients in Mongolia.
Project Objectives
The Project will channel long-term funding through one of the leading Mongolian banks to local MSMEs, including those operating in the regions, thus ultimately improving their access to finance.
Transition Impact
The Project supports Khan Bank's lending to private MSMEs in Mongolia by a multiple of EBRD's funding and focuses on maintaining Khan Bank's regional penetration and attraction of new MSME clients, which will ultimately promote the competitiveness of the local economy.
Client Information
KHAN BANK LLC
Khan Bank is one of the largest commercial banks in Mongolia by total assets and loan portfolio with a market share of 26.1% and 27.4% respectively. The bank has a universal focus and a nationwide presence through more than 530 offices.
EBRD Finance Summary
USD 30,000,000.00
Total Project Cost
USD 30,000,000.00
Environmental and Social Summary
Categorised FI (ESP 2014). Khan Bank is an existing client of the Bank and has adopted an Environmental Policy and Environmental and Social Procedures that largely satisfy requirements of Performance Requirements 2, 4 and 9. Khan Bank will need to apply their environmental and social procedures to all sub-loans funded out of EBRD funds, and ensure that sub-borrowers comply with national requirements for environment, health and safety and labour standards. Khan Bank will need to ensure an ongoing compliance with PRs 2, 4 and 9 and submit satisfactory annual environmental and social reports.
Technical Cooperation
It is envisaged that the Project would be supported by technical cooperation to assist Khan Bank in the effort to strengthen the MSME lending capacity, through advice and assistance in implementation of measures aiming at lending expansion, risk management and staff training.
Company Contact Information
Erdenedelger B., Director of Treasury and Investment Banking
erdenedelger.b@khanbank.com
+976 11 332 333
+976 70 117 023
www.khanbank.com
Khan Bank LLC Seoul Street-25, PO.BOX-192, Ulaanbaatar, Mongolia
Business opportunities
For business opportunities or procurement, contact the client company.
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