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According to the disclosure page, the transaction involves a loan of up to $18.0 million or its equivalent in togrog, comprising of (i) a loan of up to $8.0 million or its equivalent in togrog to Ulaanbaatar Flour Limited Liability Company (UBF) and (ii) a loan of up to $10.0 million or its equivalent in togrog to Tavan Bogd Food Limited Liability Company (TBF) for the Tavan Bogd COVID-19 Food Security, and Inclusive Job Creation Project in Mongolia._It will help UBF by providing financing to sustain its operations in procuring wheat during the harvest season. UBF will be sourcing all of its wheat locally and will build enough buffer inventory to cope with supply chain disruptions compounded by the Russian invasion of Ukraine. It will also help TBF enhance its operations by providing financing for the construction of its new KFC and Pizza Hut warehouses, expansion of 8 additional quick service restaurants, and maintenance capital expenditures.
The ADB categorized the project risks as follows:
The operation will finance various subsidiaries of the Tavan Bogd Group, one of the largest conglomerates in Mongolia.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | TAVAN BOGD LLC | Client | Industry and Trade |
- | - | - | - | Ulaanbaatar Flour LLC | Client | Agriculture and Forestry |
No contact information was disclosed.
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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.