EBRD launches Regional Small Business Programme in Mongolia
Micro, small and medium-sized private businesses in Mongolia will now benefit from a new Regional Small Business Programme (RSBP) launched by the EBRD in Ulaanbaatar today. The RSBP will offer access to a digital platform designed to transfer knowledge on credit analysis, banking services and MSME finance-related topics to local financial institutions.
The launch event in Ulaanbaatar, which was co-hosted by the Bank of Mongolia, was attended by senior representatives of the EU, the EBRD, the government of Mongolia, international organisations and local financial institutions.
Irina Kravchenko, Head of the EBRD Resident Office in Mongolia, said: “SME support and development are among our key objectives in Mongolia. The new online platform launched by the Bank today will give financial institutions necessary financial and management tools, it will also improve skills and qualifications of banks’ lending experts”.
Advisor to the Governor of the Bank of Mongolia and Chief Economist, Mr. J. Ganbaatar added: “As policy makers, we support the Regional Small Business Programme (RSBP), which EBRD has initiated, planned and is now implementing as well as the introduction of its Knowledge Sharing and Exchange Platform”.
The RSBP will make the knowledge sharing and exchange platform accessible to financial institutions engaged in MSME finance in Mongolia. It will also help local financial intermediaries get systematic digital access to the EBRD’s experience in this field. While the focus of the RSBP is on the digital platform, financial institutions from Mongolia will also be offered classroom training on a variety of topics relevant for financial institutions in providing services to small businesses.
The RSBP for Mongolia, funded by the EBRD Shareholders’ Special Fund, is modelled on the successful EU-funded RSBP for Central Asia, which was launched earlier this year.
The RSBP for Mongolia is implemented by independent consulting company IPC (Internationale Projekt Consult GmbH), which has a proven track record of implementing similar initiatives in the region.
