ADB, Khan Bank JSC Sign Loan to Expand Inclusive Rural Finance and Boost Agriculture in Mongolia
Mongolia, Dec. 8 -- The Asian Development Bank (ADB) and Khan Bank JSC have signed a $100 million loan agreement to support economic diversification, expand rural financial inclusion, and strengthen Mongolia's agriculture and livestock value chains.The project will promote agricultural value addition and increase export earnings by supporting Khan Bank's on-lending to agricultural and livestock processing enterprises, herders, farmers, and rural micro, small, and medium-sized enterprises (MSMEs), including women-owned MSMEs. Rural economic growth is essential to reduce Mongolia's heavy reliance on mining. However, the rural economy remains highly vulnerable to macroeconomic shocks and recurring severe weather events, and many communities st...
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