Credit line for XacBank supports Mongolian small and medium enterprises
In December 2013, OeEB signed a long-term credit line of USD 15 million for the Mongolian XacBank. The aim of the credit line is to support local micro-, small- and medium-sized enterprises (MSMEs).
|Project name||XacBank Mongolia|
|Region||Southern and Eastern Asia|
|Sector||Financial sector / Microfinance / SME|
|OeEB project volume||USD 15 million|
|Project partner(s)||XacBank Mongolia|
The Mongolian private sector consists almost exclusively of MSMEs. However, their business activities and development are hampered by insufficient financing possibilities.
OeEB’s credit line facilitates MSMEs’ access to finance, which enables them to make necessary investments. This strengthens the Mongolian economy and contributes to creating and securing jobs.