VFM

VisionFund Mongolia (VFM) was founded in 2004 and is part of an international network, called VisionFund International. VFM focuses mainly on impoverished families and communities in and around the capital Ulaanbaatar.

Savoeung Chann obtained his university degree in France and has been the CEO of VFM since 2014. Before his CEO position at VisionFund Mongolia, he worked as Chief Financial Officer at VisionFund Cambodia. Savoeung is experienced both in the NGO and in the corporate sector.

General information

BorrowerVision Fund Non Banking Financial Institution LLC
CountryMongolia
Head officeUlaanbaatar
Websitehttp://www.visionfund.org/2100/mongolia/asia-pacific/where/
Founded 1 January 2004
Active on Lendahand since 1 July 2015

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Financial information per 2017-12-31

Number of companies in portfolio10,351
Total assets€6,274,229
Leverage ratio34.22%
Write-off ratio last 12 months2.40%
% investment amount in arrears (>90 days)1.86%
% investment amount in arrears (>180 days)1.36%

About Mongolia

Mongolia implemented democratic reforms in 1990, including a new constitution. The people of Mongolia chose a parliamentary democracy with a free market economy. During the Soviet time the economy of Mongolia was mainly driven by the agricultural sector. However after becoming independent it discovered its richness in resources and minerals - namely gold, copper, uranium and coal. Because the Mongolian economy is quite dependent on mining the government is actively stimulating other sectors to diversify the economy.