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.
|Borrower||Vision Fund Non Banking Financial Institution LLC|
|Founded||1 January 2004|
|Active on Lendahand since||1 July 2015|
Financial information per 2020-09-30
|Write-off ratio last 12 months||0.81%|
|% investment amount in arrears (>90 days)||7.91%|
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.
Last funded project
With a loan of EUR 3,800 Baasandemberel will be able to buy more construction materials and expand her business.