DFF - GCR (EBRD-53830)

  • Mongolia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Khanbogd district
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 4, 2022
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
GCR Mongolia LLC
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Construction
  • Mining
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 6.30 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 17, 2023

Disclosed by Bank Oct 26, 2022

Contribute Information
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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The EBRD describes the project as a facility that guarantees up to MNT 20 billion (US$ 6.3 million) performance bonds issued to Oyu Tolgoi LLC (OT) copper-gold mining company by GCR Mongolia LLC (GCR) against the its failure to meet the obligations of the contract with OT .

The project will allow GCR to enter into large scale mining construction contracts with OT and thereby support transfer skills and know-how to the industry.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

The EBRD describes GCR Mongolia LLC ("GCR") as a mining contractor company that provides engineering design, procurement and project management services to large scale mining development projects in Mongolia.
It was established in 2017 as a joint venture of three partners including Gobi Infrastructure Partners LLC (later re-organised under Gobi Capital Management LLC), Clough Projects International Pty Ltd and RUC Cementation Mining Contractors Pty Ltd to undertake large scale underground mine construction contracts for Oyu Tolgoi copper-gold project.

The project indirectly involves Oyu Tolgoi LLC, the company managing the Oyu Tolgoi mine. Oyu Tolgoi LLC is jointly owned by the Government of Mongolia (34% of the shares) and Turquoise Hill Resources (66% of the shares). The multinational mining company Rio Tinto owns 50.8% of the latter, and manages the Oyu Tolgoi mine on behalf of the partnership.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Clough Projects International Pty Ltd Parent Company Construction
- - - - GCR Mongolia LLC Client Construction
- - - - Gobi Infrastructure Partners LLC Parent Company Construction
- - - - Oyu Tolgoi LLC Undisclosed Mining
- - - - Rio Tinto Group Undisclosed Mining
- - - - RUC Cementation Mining Contractors Pty Ltd Parent Company Construction

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No bank contacts information available at the time of disclosure.

Borrower - GCR Mongolia LLC:

Contact person: Jonon Batdorj
Email: jonon.b@gip.mn
Phone: +976-77119797
Website: www.gcrmongolia.mn
Address: New Millennium Building 4F, 15th khoroo, Khan Uul District, Ulaanbaatar 17011, Mongolia


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


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

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How it works