Supporting the Credit Guarantee System for Economic Diversification and Employment Project (ADB-48015-002)

Countries
  • Mongolia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 27, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Mongolia, Ministry of Finance
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 0.80 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Oct 15, 2017

Disclosed by Bank Mar 28, 2017


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
According to ADB website, the ADB is working with Mongolia to improve access to finance for small and medium sized enterprises—which make up over 90% of all registered businesses in the country. The project is providing new financing guarantee products for the Credit Guarantee Fund of Mongolia, making it easier for smaller businesses to source long-term funds from banks. The impact of the project will be Job creation in nonmining-related sectors increased (SME Development Program, 2014 2016).
Investment Description
  • Asian Development Bank (ADB)
Contact Information
Project Officer: Giannetto, Giacomo G. East Asia Department No contact information provided at the time of disclosure. Executing Agency: Ministry of Finance Email Address: ANUDARI@MOF.PMIS.GOV.MN Government Building-2 Negdsen Undestnii gudamj-5/1 Ulaanbaatar-210646, Mongolia ACCOUNTABILITY MECHANISM OF ADB The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main