EBRD approves financing package for new partner bank in Mongolia
Mongolia, Dec. 12 -- The European Bank for Reconstruction and Development (EBRD) is supporting the development of businesses owned or led by young people or women entrepreneurs in Mongolia and facilitating the export and import operations of private companies by providing a financing package of up to US$ 20 million (€17.2 million) to the country's third largest commercial lender, Golomt Bank.This financing consists of the following three elements:A senior loan of up to US$ 12 million (€10.3 million) provided under the EBRD's Women in Business (WiB) programme for Central Asia, which is supported by the Women Entrepreneurs Finance Initiative. Up to US$ 6 million (€5.17 million) of this money will be earmarked for investments...
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