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funding gap emerging markets
Mongolia

Ganbold Construction

  • Golomt Bank
  • Invest in a Financial Institution
  • + 42 other investors
  • With a loan of EUR 14,200 Ganbold will be able to buy solar-street lights and install waste water reusing technology.

    €14,200
    Amount
    3.00%
    Interest
    36 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€14,200
    Interest3.00%
    Maturity36 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 7 days on 31 May 2018.

      Summary

      Ganbold (41) is a construction engineer who started his renting business in the center of Selenge province of Mongolia in 2006.

      Ganbold emphasizes environment protection and persists to slash carbon footprint of his business. Therefore, his building is the only commercial construction that uses electric heating system, whereas other constructions burn coal during the winter, which only compounds air pollution of the region.

      Selenge province is located in the north part of Mongolia, bordering Russia in the north and bordering capital city-Ulaanbaatar in the south. It is known as the one of the most economically important province of the country, where more and more nomadic citizens are settling into the city.  

      Ganbold wants to expand and renovate his building to make it more energy efficient and environmentally friendly. With the loan amount of 40 million MNT, Ganbold will be able to buy solar-street lights and install waste water reusing technology to water the trees outside the building. Also, he will be able to hire 2 more staffs.
       

      Company nameGanbold Construction
      CEOGanbold Tsogtoo
      Founded2006-01-01
      LocationSelenge province, Mongolia
      SectorServices
      Turnover€92,165.89
      Employees3

      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.

      • With this investment 2 jobs are created
      • With this investment 8 lives are improved
      • With this investment 3 solar home systems are installed

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      We have already contributed to Ganbold Construction

      Els Mol
      Marco Mansveld
      Ton Schroer
      + and another
      42
      investors