funding gap emerging markets
Mongolia

Bambaipharma LLC 2

  • Golomt Bank
  • Local partner investment
  • + 62 other investors
  • With the second loan amount of EUR 42,000 the company will be able to purchase the needed medication for the second branch.

    €42,000
    Amount
    3.00%
    Interest
    36 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€42,000
    Interest3.00%
    Maturity36 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 3 days on 3 April 2019.
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      Summary

      “Bambaipharma” pharmacy was founded in 1998 by business partners Baigalmaa and Ichinkhorol. The founder Baigalmaa has been graduated as a pharmacist in Irkutsk city of Russia in 1985. She worked in a pharmaceutical company of Erdenet city for 13 years. Having a good work experience in a drug supplier company, she established her own company “Bambaipharma” with her business partner. Later in 2008, the company was expanded into an official pharmaceutical company and operates as one of the main drug wholesale company of the city. Now, the company has 8 employees and successfully operates in 2 branches.

      “Bambaipharma” pharmacy has been operating in Erdenet city for almost 20 years, and the company has been renowned for reliable medicines among the local citizens. Therefore, the company aspires to increase the inventory by importing medicines. The company plans to purchase pain killer ointments, nasal and eye drops, and variety of other medicines.

      Company nameBambaipharma LLC 2
      CEOBaigalmaa Jamyandorj
      Founded1998-02-22
      LocationErdenet city
      SectorWholesale / Retail
      Turnover€350,932.58
      Employees8

      Impact

      Small and Medium Enterprises (SMEs) are important contributors to job creation and economic growth in emerging markets. However, access to financing is a key constraint to SME growth, as about half of them don't have access to formal credit. In Mongolia, Golomt Bank serves nearly 80% of the corporate market. They were the first commercial bank in the country to issue small business loans. Golomt Bank accelerated the development of mobile banking in Mongolia by introducing smart banking services in the local financial sector.

      Financial support enables Mongolian entrepreneurs to increase their professional activity, resulting in job creation and improved living conditions.

      Golomt Bank is a member of the United Nations Environmental Program Finance Initiative (UNEP FI). This partnership helps create a financial sector that serves people and the planet and mobilizes private sector finance for sustainable development. The bank has a "Sustainable Development Policy" in which they implement the SDGs in all its operations. For example, improving their waste management, increasing the number of roads for wheelchair users in their offices, and cooperating with environmentally friendly organizations.

       

      SDGs impacted

      With this project you are contributing to the following Sustainable Development Goals:

      SDG 1. No Poverty

      SDG 8. Decent work and economic growth

      Read more about the impact you can make through our platform and the SDGs on our impact page.

       

      Related blog posts

      Read more about other Microfinance Institutions in our portfolio in this overview.

      • With this investment 2 jobs are created
      • With this investment 10 lives are improved

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      We have already contributed for Bambaipharma LLC 2

      Jan Mostert
      Ron van Eijk
      Ton Schroer
      Bas Schipper
      Marc Sierink
      + and another
      62
      investors