FMO and Triodos Investment Management provided loan of USD 35 million in Khan Bank, Mongolia. Of the total, FMO will provide USD 25 million, while Triodos Investment Management will provide USD 10 million loan. The transaction will help boost development of Mongolia’s capital market and its small and medium enterprise (SME) sector. Khan Bank has a strong focus on SMEs and retail customers and has a wide reach due to its extensive network of rural branches. The facility strengthens Khan Bank’s capital position, and increase its ability to meet loan demand from Mongolian SMEs and corporate clients.
This is FMO’s third loan to Khan Bank since 2009 and is provided in a time Mongolia faces macro-economic challenges. Despite these difficult circumstances, Khan Bank continues to perform well, which has resulted in this new facility from FMO. For Triodos Investment Management it is the first loan to Khan Bank.