MongoliaBatbileg
With a loan of EUR 15,950 Batbileg will be able to purchase 10 hectare of land and broaden the vegetable sorts. Also, he can buy a small truck for transportation.
€15,950
3.00%
48 months
6 months
EUR
Currency| Amount | €15,950 |
| Interest | 3.00% |
| Maturity | 48 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Batbileg (33) is a citizen of Khuvsgul province in Mongolia. He has graduated from the Ulaanbaatar University of Economics, majoring in international trade and customs officer. After working on a plantation project in 2008, he began planting vegetables at his own property land since 2011. Batbileg plants variety of vegetables such as potatoes, carrots, cabbages, broccoli etc. since. His business has been growing steadily, as he sells the fresh vegetables in a local market. Now, he has 4 full time employees to help him at the land.
As a demand for fresh locally grown vegetables is increasing across the country, Batbileg aspires to expand the plantation land. He plans to purchase 10 hectare of land and broaden the vegetable sorts. Also, he needs a truck to transport the vegetables to the big local markets at the province. He will hire 4 part-time employees to work at the bigger plantation land. He will be able to expand the planting business with a loan amount of MNT 47 million.
| Company name | Golomt Bank |
| CEO | Batbileg Ulzii-Orshikh |
| Founded | 2011-06-18 |
| Location | Murun, Khuvsgul |
| Sector | Agriculture |
| Turnover | €34,418.62 |
| Employees | 4 |
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 4 jobs are created
- With this investment 20 lives are improved
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We have already contributed to Batbileg
Jan van MunsterRon van EijkBoudewijn GailliaertCees van Iperen