funding gap emerging markets
Mongolia

Impact+ Golomt 2019-1 (SJTS)

  • Golomt Bank
  • Local partner investment
  • + 9 other investors
  • With a loan of EUR 146,700 Golomt Bank will be able to finance small and medium enterprises in Mongolia.

    €146,700
    Amount
    3.00%
    Interest
    48 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€146,700
    Interest3.00%
    Maturity48 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 37 minutes on 31 July 2019.
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      Summary

      Investments via Impact+ are direct investments in financial institutions and/or companies and cannot be related to specific projects. 

      With a loan of EUR 146,700 Golomt Bank will be able to finance small and medium enterprises in Mongolia.

      Company nameImpact+ Golomt 2019-1 (SJTS)
      CEOMr Ganzorig
      Founded1995-01-01
      LocationUlaanbaatar
      SectorWholesale / Retail
      Turnover€4,336,360
      Employees700

      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 5 jobs are created
      • With this investment 25 people are reached

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      We have already contributed for Impact+ Golomt 2019-1 (SJTS)

      A. Huibers
      + and another
      9
      investors