Our local partner in Mongolia
VisionFund Mongolia (VFM) was founded in 2004 and is part of the international network VisionFund International. VFM is one of the few microfinance institutions whose primary focus is the need and wellbeing of poor families and communities in and around the capital Ulaanbaatar.
Savoeung Chann attended university in France. He joined VFM as the CEO in the spring of 2014. Prior to this, his last-held position was CFO with VisionFund Cambodia for more than 7 years. Chann has extensive experience with NGOs, Microfinance and other business sectors.
- Full nameVision Fund Mongolia
- Head officeUlaanbaatar
- Founded in2004
- Active on Lendahand since July 2015
Financial indicators June 30, 2016
- Number of SMEs in loan portfolio11,269 (including micro loans)
- Total assets € 9,815,607
- Leverage ratio27%
- Loan portfolio€ 7,656,228
- Write-off ratio last 12 months0.17%
- % loan amount in arrears (>90 days)0.26%
- % loan amount in arrears (>180 days)1.71%
Mongolia gained independence from the Soviet Union in 1991. The people of Mongolia chose a parliamentary democracy with a free market economy. During the Soviet time the economy of Mongolia was mainly driven by the agricultural sector. However after becoming independent it discovered its richness in resources and minerals - namely gold, copper, uranium and coal. Because the Mongolian economy is quite dependent on mining the government is actively stimulating other sectors to diversify the economy.