geo/mongolia
Sharing this interesting video from Asian Development Bank about credit guarantee system expand ing finance for Mongolia’s SMEs. A project is now helping commercial banks lend more easily to SMEs by backing Credit Guarantee Fund’s credit guarantees.
Washington, D.C., June 13, 2018 – Khan Bank became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
Largest commercial bank in Mongolia. It provides comprehensive banking services to individuals SMEs and corporate customers.
XacBank is a Mongolian banking and financial services company organized into three main business groups: Retail Banking; Business Banking and Corporate Banking.
Mongolia’s small and medium enterprises (SMEs) say limited access to finance is their biggest stumbling block to growth, with women-owned SMEs facing particular difficulties, according to a report released today by IFC, a member of the World Bank Group. More than 95 percent of SME executives interviewed need loans. Their total credit gap is 9,022 billion Mongolia tugrik ($5 billion). One quarter of that demand is from women-owned SMEs, which account for almost 40 percent of companies in Mongolia.
The “SMEs and Women-Owned SMEs in Mongolia” report highlights the key trends, challenges, and opportunities for Mongolian SMEs in three areas: enabling environment, supply and demand prospects for financial and non-financial services, and demand for and access to finance, with a particular focus on women-owned businesses. The study is expected to provide guidance to IFC and other financial institutions in the design and implementation of their SME Banking and Women-focused products in Mongolia.
