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funding gap emerging markets
Mongolia

Ochirbat 2

  • Golomt Bank
  • Invest in a Financial Institution
  • + 77 other investors
  • With a loan amount of EUR 33,300 Ochirbat will be able buy inventories for his new store like eggs, bran and oat.

    €33,300
    Amount
    3.00%
    Interest
    48 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€33,300
    Interest3.00%
    Maturity48 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 3 days on 1 February 2019.

      Summary

      In 2003, Ts. Ochirbat established his entrepreneurship by importing essential food products, such as flour and rice, from Russia. Now, his family company “Ayanjin” LLC operates in Uvs province, and sells consumer products to the local citizens of the province. The company has 2 employees working at the grocery store.

      Uvs province is located at the west side of the country and borders with Russia. Due to a favorable geographical location of the province, trade business has significantly developed and majorly contributes to the local economy. 

      With a loan amount of MNT 100 million, he will be able buy the following inventories for his new store:

      ·         Bran (175tn)- MNT 56 million

      ·         Oat (75tn)- MNT 36 million

      ·         Egg (80 packages)- MNT 8 million

      Ochirbat and her wife are very enthusiastic to open the new shop and to sell healthy foods to the local consumers.

      Company nameOchirbat 2
      CEOOchirbat Tsedev
      Founded2003-01-25
      LocationUlaangom
      SectorWholesale / Retail
      Turnover€274,837.94
      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 2 jobs are created
      • With this investment 10 lives are improved

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      We have already contributed to Ochirbat 2

      Alcanne Houtzaager MA
      Piet van der Kooi
      Bram Berkelmans
      Jacques van den Bosch
      Marco Mansveld
      + and another
      77
      investors