Batgerel

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Mongolia

Batgerel

Golomt Bank

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With EUR 22,250, Batgerel will be able to build a small warehouse to expand his family business and hire 2 more employees.

€22,250

Importe

3.00%

Interés

48 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€22,250
Interés	3.00%
Vencimiento	48 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 26 díasen 22 Mayo 2018.

El proyecto

Batgerel (50) runs a clothing shop in Uvurkhangai province, Mongolia. He’s been running the business since 1999 and has become well known among the locals for providing good quality products with wide range of choices. Uvurkhangai province is located neighboring the capital city of Ulaanbaatar, 430 kilometers away from the city. The first capital city Karakorum and Orkhon steppe, which is acknowledged by the UNESCO as an heritage reserve, are located in the province and is one of the tourist attractions of the country. Thus, tourism is a main economic sector of the region, and one fourth of total tourists visiting Mongolia pass through Uvurkhangai province. Uvurkhangai is one of the most developed provinces of the country and contributes enormously to the regional economic and social development.

Initially, Batgerel started the business with his wife to generate household income for his family of 5, but now he has a good customer base and a stable demand from local citizens. In order to prepare for the upcoming holiday seasons in summer and fall, when number of customers increase drastically, Batgerel needs to build a warehouse.

With loan amount of MNT 65 million, Batgerel will be able to build a small warehouse to expand his family business and hire 2 more employees.

Nombre de la empresa	Golomt Bank
Director general	Batgerel Dashtseden
Fundado	1999-01-01
Ubicación	Uvurkhangai province
Sector	Agricultura
Volumen de negocio	€108,792.33
Empleados	3

Impacto

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.