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IFC launches innovative Mongolia Tugrik to help micro and rural entrepreneurs amid COVID-19

1 min read

The FINANCIAL — About 15,000  micro, rural and women entrepreneurs in the next three years are set to benefit from an innovative Mongolia Tugrik (MNT) denominated loan facility for Transcapital LLC, a leading non-bank financial institution in Mongolia, arranged by IFC, a member of the World Bank Group. The move is part of IFC’s strategic efforts to boost resilience in the country’s financial sector amid COVID-19. The facility includes a 3-year loan of about MNT 8.4 billion (about $3 million) from IFC’s own account and a syndicated loan of about MNT 25.2 billion (about $9 million) from Impact Investment funds…

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IFC launches innovative Mongolia Tugrik to help micro and rural entrepreneurs amid COVID-19

1 min read

The FINANCIAL — About 15,000  micro, rural and women entrepreneurs in the next three years are set to benefit from an innovative Mongolia Tugrik (MNT) denominated loan facility for Transcapital LLC, a leading non-bank financial institution in Mongolia, arranged by IFC, a member of the World Bank Group. The move is part of IFC’s strategic…