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funding gap emerging markets
Mongolia

Oyunchimeg 2

  • Golomt Bank
  • Invest in a Financial Institution
  • + 62 other investors
  • With a loan of EUR 27,350 Oyunchimeg will be able to expand her business and sell healthy consumer meat to the buyers.

    €27,350
    Amount
    3.00%
    Interest
    48 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€27,350
    Interest3.00%
    Maturity48 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 6 days on 13 December 2018.

      Summary

      Oyunchimeg (46) has established her business in 1999 by selling consumer meat in the public market of Dornod province. Later in 2007, she expanded her business by opening a butcher shop and established her own company named “Ganbadam” LLC. Now, the company operates with 2 employees, and produces consumer meat and frozen dumplings.

      Oyunchimeg runs her business in Dornod province which is located at the east part of the country and borders with Russia and China. Due to an economically favorable location, trade business has been significantly developed in the province, especially international sales of consumer meat. Thus, Oyunchimeg plans to broaden her business by expanding the butcher shop and building a cooling storage.

      With a loan amount of MNT 80 million, she will be able to expand her business and sell healthy consumer meat to the buyers.

      Company nameOyunchimeg 2
      CEOOyunchimeg Tumurbaatar
      Founded1999-01-01
      LocationDornod
      SectorWholesale / Retail
      Turnover€312,876.02
      Employees2

      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 1 jobs are created
      • With this investment 4 lives are improved

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      We have already contributed to Oyunchimeg 2

      Aad Nootebos
      Hans Uppenkamp
      Madelien van Manen
      Piet van der Kooi
      + and another
      62
      investors