DFF - Mekhlopat (EBRD-52279)

Countries
  • Mongolia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
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
B
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 17, 2020
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
MEKHLOPAT LLC
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Industry and Trade
  • Mining
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 2.37 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 2
Converted using 2020-11-17 exchange rate.
Project Cost (USD)
$ 2.37 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 2
Converted using 2020-11-17 exchange rate.
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Dec 17, 2020

Disclosed by Bank Nov 17, 2020


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Project Description

According to the EBRD's website, this project provides financing to Mekhlopat, a supplier of consumables, equipment and engineering services to mining and energy sectors in Mongolia, to increase liquidity and resilience following the COVID-19 outrebak.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors
Private Actors Description

Established in 2002, Mekhlopat is engaged in supply of consumables, equipment and engineering services to mining, energy and other sectors. Mekhlopat has developed long-term relationships with leading Mongolian mining projects and has established efficient supply chains from global producers of mining consumables.

The Company is owned by Mongolian citizen Mr. Gantulga Baatarsuren.

Contact Information

Mr. Gantulga Baatarsuren
gantulga@mekhlopat.mn
+976 7500 1166
www.mekhlopat.mn
Grant Plaza Complex, Suite – 801, Bayangol district, 2nd Khoroo, Peace Avenue, Ulaanbaatar, Mongolia

ACCESS TO INFORMATION
You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html