Munkh Khukhii LLC 1
With this first loan of EUR 50,000 Munkh Khukhii LLC can start with the construction of a new trade center.
Munkh Khukhii LLC was established in August, 2015 and it operates in real estate rent business. The company owns a trade center named “Munkh” and rents shopping areas for business owners who sell broad consumer products. The trade center has 2 stores where food items are sold at the 1st floor; and clothing and beauty products are sold at the 2nd floor. Currently, “Munkh” trade center rents the shopping areas for 59 business owners, and it provides with a safe and convenient business environment.
Since its establishment “Munkh” trade center has been operating successfully and was named as the best trade center at the Bayanzurkh district. Therefore, the company plans to build the second branch of the shop in the west area of the city. With this new trade center project, the company will be able to provide workplaces for over 50 business owners. As Munkh Khukhii LLC emphasizes company's social responsibility, it always strives to provide with favorable renting terms and convenient working environment for its customers.
|Company name||Munkh Khukhii LLC 1|
|Sector||Wholesale / Retail|
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.
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.
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Read more about other Microfinance Institutions in our portfolio in this overview.
- With this investment 5 jobs are created
- With this investment 25 people are reached