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funding gap emerging markets
Mongolia

Aziin Ikh Khuleg

  • Golomt Bank
  • Invest in a Financial Institution
  • + 90 other investors
  • With a loan of EUR 34,600 Aziin lkh Khuleg will be able to to buy additional equipments such as filter, packer etc. for the new product line.

    €34,600
    Amount
    3.00%
    Interest
    48 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€34,600
    Interest3.00%
    Maturity48 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 15 days on 8 June 2019.

      Summary

      In 2004 Tumur-Ochir established the company “Aziin Ikh Khuleg” which manufactures various types of drinks, such as pure water and fresh juices. The most popular product of the company is a bottled water (20 litres) which is conveniently used at public places in particular banks, hospitals and offices. The company delivers the bottled water to its customers for free and has been serving to more than 1000 long-lasting customers. Now, the company has over 20 employees working at the factory and the back office.

      As the company has been serving numerous customers across the Ulaanbaatar city, the demand for pure drinking water has increased among the urban citizens. Thus, Tumur-Ochir plans to add a new line in the factory and hire 3 more employees for the capacity upgrade. With a loan amount of MNT 101.9 million, he will be able to buy the additional equipments such as filter, packer etc. of the new line.

       

      Company nameAziin Ikh Khuleg
      CEOTumur-Ochir Perenlei
      Founded2004-04-29
      LocationUlaanbaatar
      SectorManufacturing / Production
      Turnover€134,535.60
      Employees20

      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 3 jobs are created
      • With this investment 15 lives are improved

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      We have already contributed to Aziin Ikh Khuleg

      Jan van Munster
      Jan Mostert
      Edwin Tofield
      Ton Schroer
      Marc Sierink
      + and another
      90
      investors