Large capital infusion for Credit Mongol’s microfinance lending - News.MN

Large capital infusion for Credit Mongol’s microfinance lending

Old News! Published on: 2010.10.29

Large capital infusion for Credit Mongol’s microfinance lending

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Г. Нэргүй
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Responsibility Social
Investments AG, an investment manager founded in 2003 in Switzerland, has
recently made five debt investments totaling USD5.5 million in microfinance
institutions (MFIs) Prasac of Cambodia and Credit Mongol of Mongolia. In
addition, Mikrofinanz-Fonds made a debt investment totaling USD 250,000 in
Credit Mongol.

Credit Mongol LLC is a
non-banking microfinance institution (MFI) established as a limited liability
company in 2000 in Mongolia as part of the European Union Tacis Program, which
seeks to help partner states in Eastern Europe and Central Asia transition into
market economies. Credit Mongol aims to provide microloans to small and
medium-sized enterprises and currently serves six regions in Mongolia. As of
December 2008, Credit Mongol had USD4.9 million in assets, 1,524 active
borrowers, a gross loan portfolio of USD4.2 million, a return on assets of 9.35
percent and a return on equity of 26 percent.         

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