Original disclosure @ ADB website
Updated in EWS May 9, 2023
Disclosed by Bank May 2, 2023
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As stated by the ADB, the project consists of up to MNT35,000,000,000 or its equivalent in dollars in the form of a senior, secured, 5-year tenor loan to Intermed guaranteed by MCS to fund the construction of an 80-bed facility next to the existing hospital, 10 outpatient clinics, and 3 inpatient branches in rural parts of Mongolia.
The ADB categorized the project as follows:
As stated on the company's website, Mongolia’s three leading companies, MCS Group, Energy Resources, and Shunkhlai Group, recognized their social responsibilities and invested in building an international standard, high quality medical facility, Intermed Hospital. They believe a quality hospital can improve the current image of the Mongolian healthcare industry and provide a local, affordable alternative to medical tourism abroad. Intermed Hospital opened in May 2014.
As stated on the company's website, set up in 1993 as an energy consultancy during Mongolia’s transition from socialism to democracy, MCS operates businesses in many sectors which are vital for increasing Mongolia’s economic growth. Today, MCS is one of the largest business conglomerates in Mongolia, operating leading companies in engineering, energy, communication, property, mining, FMCG, health, and hospitality.
MSC Group will guarantee the loan of the ADB.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||International Medical Center LLC||Client||Education and Health|
|-||-||-||-||MCS Group||Investor||Industry and Trade|
|-||-||-||-||Shunkhlai Group||Investor||Industry and Trade|
ADB Team Leader:
Dong Han - Office of the Director General, PSOD
No contacts available at the time of disclosure.
Client - International Medical Center LLC:
Address: Chinggis Avenue 41, Khan-Uul District 19, Uildver 17040, Ulaanbaatar, Mongolia
MCS Group (MCS Mongolia LLC):
Address: Shangri-La Ulaanbaatar Center 24th floor, Olympic street, Sukhbaatar District-1, Ulaanbaatar 14241, Mongolia
Phone: +(976) 7777 8833
ACCESS TO INFORMATION
You can submit an information request for project information at: https://www.adb.org/forms/request-information-form
ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals
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.