devinitorg/iati-policy-markers huggingface dataset:
DCM Khan Bank Social Bond The proposed investment entails IFCs investment in a 3-year Social Bond to be privately issued by Khan Bank JSC (Khan Bank or the Bank) of up to US$100 million (the Bond). The proceeds of the Bond will be used to expand Khan Banks social financing portfolio by financing eligible social projects as defined by the Social Bond Framework (SBF), which will adhere to the International Capital Market Associations (ICMA) Social Bond Principles and verified by Second Party Opinion (the Project). The Bond will be the first social bond in Mongolia. The Project is the continuation of IFCs efforts to promote financial inclusion and thematic financing in Mongolia. Project Outcome:
Stakeholder Effects  Increased access to finance for social projects including MSMEs and WMSMEs:  IFC anticipates that, through Khan Bank, the Project will increase access to finance of MSMEs, WMSMEs, and  further grow eligible social financing portfolio of Khan Bank, especially in the rural areas, healthcare, and education. 

Market Creation:
Sustainability: IFC anticipates that this Project will contribute to enhancing sustainability of financial market in Mongolia, as IFC will support a systemically important bank to issue the countrys first social bond. The social bond will follow Social Bond Principles, in line with international standards, thus setting the standard in the market through demonstration and replication to lead to future social bond issuances, and contributing to the development of this new asset class in the capital market.
SEF XAC-Microstart Mongolia XAC,  the largest microfinance institution in Mongolia, has operated for almost three years providing financial services to micro-entrepreneurs across the country.  As of April 2001, XAC  serves about 4,000 clients, and has an outstanding portfolio of about US$1.0 million equivalent.  Since commencing operation, XAC has maintained a very high portfolio quality, reached operational profitability, and built a solid reputation in Mongolia. XAC''s total assets are currently about US$ 1.5 million equivalent. Total equity is about US$ 338,000 equivalent, with UNDP funding of about US$ 720,000 equivalent (booked as liabilities) to be converted into equity over the next year.     Starting in 2000, IFC obtained technical assistance funding from the Dutch government to hire microfinance consultants. The program is still ongoing.  XAC has approached other potential technical and financial partners, and has secured the involvement of the government of Finland, CGAP, Triodos Bank, and Shorebank, and other entities.    Through the proposed investment, IFC will contribute to the development of XAC into a commercially-sustainable microfinance institution, with the possibility to expand into a microfinance bank.  IFC will provide additional financing to expand XAC''s lending operations.  IFC would furnish ongoing advice to XAC management in developing its strategy and business plan both through informal IFC staff involvement, and through additional technical support for which IFC is currently seeking funding.    The project provides several development benefits, including increasing the availability of credit to the informal and SME sector and facilitating rural development.  In Mongolia, the informal sector (including microenterprise businesses and agricultural activity) plays a significant role in the economy, potentially accounting for over 30% of GNP according to a 1998 World Bank study. However, there is little formal financing available to the sector and many areas of the country have limited access to credit or savings.  XAC is one of a very limited number of finanical institutions to serve the microfinance sector, although competition is increasing.  The extension of XAC''s branch network into rural locations will provide important financial services and in turn contribute to rural development.  The success of XAC will promote the development of the a commercially sustainable microfinance industry.    Part of IFC''s role in the project is as a lender, since long-term finance for XAC''s expansion is not available in the domestic market.  IFC will also be a provider of technical assistance, which it plans to provide in coordination with CGAP and the World Bank SME group.  IFC has also worked with the other stakeholders in the project (Triodos, Shorebank) on previous microfinance initiatives.  IFC will ensure that XAC adopts an appropriate environmental plan.
Mongolia Opportunities Fund I, L.P. Mongolia Opportunities Fund I L.P. (the Fund) is an eight-year closed-end Mongolia-focused private equity fund. The Fund will make equity investments in small and medium enterprises (SMEs) along the mining supply chain, in infrastructure, and in agribusiness.  The Fund could also opportunistically invest in telecommunications, financial services, and wholesale/retail trade.  The Fund will not invest in companies engaged in mineral extraction activities. The Fund is expected to deliver strong development impact through (i) supporting undercapitalized SMEs in Mongolia; (ii) demonstrating successful private equity investing in Mongolia, a priority IDA country, (iii) building confidence amongst institutional investors to invest in Mongolia; and (iv) mobilizing co-investment from strategic international investors.
Ibis Mongolia Mongol Micron Cashmere LLC (MMC) is a leading cashmere processing company in Mongolia. MMC plans to expand its businesses through the construction of a 12-story building that contains: (i) a 123-room hotel with associated food & beverage, health and business areas; (ii) 4 stories of retail space; and (iii) 200 parking lots (together, the Project). The Project is being carried out by MMC Polaris LLC (MMC Polaris or the Company), a wholly owned subsidiary of MMC. Expected development impact includes: (i) construction of business-enabling infrastructure in an area that is expected to be redeveloped into an extended commercial and residential zone of Ulaanbaatar city center; (ii) creation of direct and indirect employment opportunities and knowledge sharing; and (iii) creation of demand for locally-sourced materials, services, and labor both during construction and operation phases.
MCS Group Project Incorporated at Ulaanbaatar in 1993, MCS Group (MCS Group or the company) is one of the leading private enterprises in Mongolia with 15 subsidiaries covering diversified business activities including:   - energy & infrastructure,  - general manufacturing & services,  - information & communications,  - property development, and  - food, beverage & alcohol.    At present, the company is one of the largest private sector entities in terms of number of employees in Mongolia with about 3,000 full-time direct staff and about 1,000 indirect staff through its contractors and subcontractors.    The proposed project has four main components to be implemented during 2007 - 2009:  - capital expenditures to support the expansion and modernization of the MCS Groups various existing production capacities,  - development of the residential and commercial properties; - refinancing a part of short-term debt to strengthen the balance sheet of the company; and - supporting the concept development of the companys local hospital project. The project is expected to create a positive development impact based on:  - creation of permanent direct full-time jobs for over 500 people per each year and additional over 1,000 indirect job through the contractors and subcontractors over the next 3 years during the project implementation stage;  - transfer of technology and best industry practices from the multinational companies to the local enterprises through MCS Groups various joint venture projects,  - improvement of the capital structure and financial viability of one of the Mongolias leading private enterprises, which will generate long-term financial benefits to its financiers, government and direct and indirect employees, and  - diversification of the Mongolian market and strengthening its domestic economy, which will help to reduce the reliance of the Mongolians economy on few mineral commodities.
MCS Covid Project IFC is providing support to a number of MCS businesses that have been negatively impacted by the Covid-19 pandemic and associated economic disruption. This includes funds for (i) recapitalizing MCS hospital subsidiary Intermed, (ii) working capital and liquidity support to MCS property and construction businesses, (iii) long term strategic digital investments and (iv) maintenance capital expenditure in MCS fast moving consumer goods (FMCG) and information and communication technology (ICT) subsidiaries. Once complete, the IFC financing will enable MCS to restructure its financial liabilities so that the average maturity of its debt repayments will be significantly extended. The Covid-19 pandemic and the various quarantine restrictions imposed by the government (including restricting border access, limiting mineral exports which are key to Mongolia's export earnings) has negatively impacted several of MCS' business lines. These include (i) a drop in patient volumes at Intermed Hospital (ii) reduction in consumer spending impacting the FMCG divisions (iii) rental payment deferral requests from tenants at the group's commercial and residential properties; and (iv) suspension or postponement of some construction projects due to curfews, travel/border restrictions.
The proposed loan will support MCS's capacity to sustain operations and employment during the downturn and expedite post-crisis recovery. In addition, the loan will have a positive effect on (i) employees of the highly affected businesses; and (ii) customers (tenants) through deferring payments, rent relief, and improving working capital terms. 
All IFC projects that are designed to respond to the COVID-19 pandemic share the same development thesis: By supporting its clients' capacity to sustain operations during this acute shock, IFC best positions the private sector to support the economic recovery process, shortening the time it will take for the most vulnerable to return to their traditional income-earning opportunities.
Khan Bank Sub D The Project is to extend a 7-year subordinated loan of $20 million to Khan Bank (the Bank), an IFC existing client, to strengthen the Banks tier-II capital and support the Banks business growth. 1.	Increase access to finance to small and middle enterprises in Mongolia;
2.	Create jobs and improve livelihood as a result of supporting access to finance; and
3.	Support the Mongolia banking sector by strengthening the capital position of the largest bank in the country.
Transcapital The proposed investment is a local currency denominated syndicated senior loan facility to Transcapital NBFI LLC (the Company or Transcapital), the largest microfinance institution (MFI) in Mongolia, and includes (i) a 3-year IFC A loan of MNT equivalent of up to US$3 million; (ii) a 3-year hedged A loan participation (HALP, or US$ parallel loans plus a cross currency swap) of up to US$9 million equivalent. This if IFCs first engagement with Transcapital. The proposed investment will help the Company to further improve the access to finance for the underserved micro enterprises in Mongolia, especially those in the rural and suburb areas of Mongolia outside of the capital city Ulaanbaatar; in addition to supporting the development of microfinance sector in Mongolia by helping microfinance institutions gain access to mid-term local currency funding and strengthen institutional capacity. The expected development impact from this proposed project is to increase access to finance for underserved segments in Mongolia, namely micro-enterprises/individuals, especially towards women and in the rural and semi-urban areas in the country. Through the project, IFC will also be providing much needed mid-term local currency linked financing to Transcapital, through IFC's own account and also via the mobilization of international lenders, which will also help to diversify the Company's funding sources and support its envisioned growth.
GEF Mongolia Egin-Uur Watershed Conservation Initiative The American flyfishing company, Sweetwater Travel and its Mongolian parner, Hovsgol Travel, have been operating a successful flyfishing ecotourism business on the Eg and Uur rivers since 1995.  The two companies established an NGO, the Taimen Conservation Fund (TCF), to assist the local communities manage the EUWA natural resources.    The project aims to establish a partnership between the local communities, government institutions and bodies, and tourist companies to collaboratively and proactively establish a natural resource management regime for the Eg-Uur Watershed Area (EUWA) in the north-western region of Mongolia.  The underlying rationale of the project is to treat wildlife as a locally managed concessionable natural resource, rather than a simple public good, thereby enabling the local communities to maximize the economic returns from its use.  The financial sustainability and biodiversity conservation vehicle for the project is high-end, low impact catch and release flyfishing ecotourism.      The project promotes poverty reduction by supporting community based initiatives in sustainable land and resource use.  The GEF intervention provides the conditions to initiate a natural resource user fee system, which will tap into these returns to fund biodiversity conservation and community development  on a financially sustainable basis.
TFG Equity 2013 The proposed project will consist of IFCs equity investment of up to MNT10.4 billion (US$7.5 million equivalent) in Tenger Financial Group (TFG or the Company), an existing equity investee company of IFC, by purchasing from the existing shareholders.      TFG, established in 2001 on the base of its major subsidiary XacBank, is a Mongolian financial group offering a full range of financial services.  Its major subsidiaries include XacBank (comprising nearly 96% of its total assets), XacLeasing, Tenger Insurance, TenGer Capital (brokerage and investment advisory services), XacSecurity (premium quality security services), Tenger Solutions (mobile banking solutions in house developer) and Xinjiang Tianrong Micro Credit Company (Xinjiang MCC, a company based in western China).  IFC started its long term partnership with TFG in 1999, with an advisory program to X.A.C. LLC, one of the predecessors of XacBank, and became a shareholder of the Company in 2008.     IFCs further increasing stake in TFG through the proposed investment, will demonstrate confidence in both the Company and the Mongolian financial market, will provide comfort to the new strategic international investor, and will help the Company to achieve a more balanced shareholding structure and a more transparent corporate governance, which will constitute strong basis for the Companys future development. i)	To support the development of Mongolian financial sector: through the proposed investment, IFC will help a systemically important financial institution of Mongolia to introduce a strategic international investor and to achieve a more balanced and transparent shareholding structure, which will become a strong basis for the Company''s further development and will also benefit the further development of the Mongolian financial sector; and ii)	To promote better corporate governance among Mongolian corporations: after the completion of the transaction, Tenger Financial Group will achieve a more transparent corporate governance, which will have strong demonstration effect to other Mongolian corporations and will promote the improvement of their corporate governance.
Khan Bank Loan The project is to provide a 7 year loan of up to $15 million to Khan Bank (the Bank), formerly known as Agricultural Bank of Mongolia (Agbank), to support its growth in hard currency denominated corporate lending activities. The Bank is an existing IFC client. An equity investment of $1,174,733 was disbursed in Dec 2004. In Dec 2006, IFC participated in a rights issue of the Bank and made an additional investment of $392,730. Currently, IFC holds 527,908 shares, representing a 9.1% stake in the Bank. The project has a strong developmental impact, assisting Khan Bank to build on their established expertise in microfinance and rural finance and to expand exposure to SMEs and corporates.  IFCs proposed loan will enable the Bank to diversify their lending to the US dollar-by providing SMEs and corporates with medium and long term working capital and fixed-assets financing. The institution''s strong performance, as demonstrated by its portfolio growth and profitability, its management methodology and control mechanisms and its outreach in rather remote and geographically challenging areas will serve as best practice examples for other financial institutions.
Khan Bank Debt The Project is a 5-year senior loan of $30 million to Khan Bank (the Bank), an IFC existing client, to strengthen the Banks capacity in supporting local SMEs. (i)  Increasing access to finance:  IFC''s investment will help Mongolia''s largest bank to grow its SME and corporate business through both funding and capacity building. Expansion of the bank''s loan portfolio will reach more customers through its largest network in Mongolia and support its existing clients; (ii) Stronger funding position: The project will enhance the funding position of a systemically important bank in Mongolia and support to grow; and (iii) Support the system: Supporting a systemic bank will convey positive signals and boost the confidence in the financial sector.
XacBank Sub Debt The Project is to extend a 7-year subordinated loan of $5 million to XacBank (the Bank) to help the Bank strengthen its tier-II capital and enable it to achieve its loan growth targets over the next three years. XacBank was established in October 2001 and has been an existing IFC client since 2002. The Bank seeks to aggressively grow its SME lending business over the next three years, and is thus in need of additional capital to make this possible. (i) Increased access to finance to Mongolian SMEs; (ii) Creation of jobs and other economic benefits as a result of supporting SME growth; and (iii) Strengthened capital position of a leading bank and an indication of confidence in the Mongolian financial sector.
Khan Green MSME The proposed investment in Khan Bank LLC (Khan Bank or the Bank) is up to US$180 million, consisting of (i) a 5-year green bond to be privately issued by the Bank of up to US$50 million to finance eligible climate-related projects, comprising (a) IFCs subscription of up to US$15 million, and (b) a mobilization of up to US$35 million; and (ii) a 5-year senior loan of up to US$130 million, comprising (a) up to US$70 million from IFCs own account, and (ii) up to US$60 million mobilized from international lenders, to support the recovery and growth of micro, small and medium enterprises (MSMEs) in Mongolia, including women-MSMEs (the Project). The green bond will be the first green bond to be issued in Mongolia. The senior loan element of the Project may be supported by the Women Entrepreneurs Opportunity Facility (WEOF) and the Women Entrepreneurs Finance Initiative (We-Fi) as described in the Blended Finance Section. Project Outcome
Increased access to finance for MSMEs: IFCs proposed investment in a senior loan will support Khan Bank through its largest branch network in growing its MSME loan portfolio and contribute to addressing the financing gap for MSMEs in Mongolia. 

Increased access to green finance: The proceeds from IFCs investment in the green bond to be issued by the Bank will be used for financing eligible green assets. IFCs proposed investment in the green bond will support Khan Bank in growing its green portfolio. 

Market Creation
Sustainability: The green bond to be issued by Khan Bank is expected to contribute to improving sustainability of financial market in Mongolia, as IFC will support a systemically important bank in the country to issue the countrys first green bond. The green bond will follow the Green Bond Principles, thus reinforcing harmonized green practices in the market via demonstration and market enabling channels. Moreover, the growth of the Banks climate portfolio is likely to demonstrate the importance of climate finance as a separate asset class, sending a strong signal to the market and motivating other financial and non-financial institutions to replicate and contribute to the development of the green bond market.
Agricultural Bank of Mongolia Currently as one of the top Mongolian banks by many standards, Agbanks (Agbank, bank or the company) competitive advantage lies in its 377 branches covering almost the entire country, thus enabling it to provide small individual loans to those without access to credit in even the most remote areas.  As of 12/31/2003, it had total assets of approximately $78 million (mostly loans), total liabilities of about $71 million (mostly deposits), and total capital of $7 million.  Successful turnaround of the bank during the past couple of years is evidenced by its strong loan and deposit growth and average return on equity and return on assets of 55% and 4%, respectively.  

The purpose of the project is aimed at supporting the bank's expansion and institutional strengthening of a local private sector commercial bank engaged in microfinance.
SEF G+M Industrial Ltd. Summary Of Project Information (SPI)       Project Name    Mongolia-G & M Leather Garments              Region    Asia        Sector       Project No007940   Projected Board DateJanuary 14, 1997   Company NameG & M Industrial Co. Ltd.   Technical Partner and/or Major Shareholders    	Enkhjin Co. Ltd.  (Mongolia)    	Testorf Trading Company  (Germany)    Project Cost Including proposed IFC investment    	Proposed project cost is US$3.5 million.  IFC proposed investment is US$1.75 million, consisting of US$1.45 million long-term loan and US$0.3 million of equity.    Location of project and Description of site    	The Company and the proposed project are located in Bayangol industrial district of Ulaanbaatar.  The site occupies 1.7 hectares of land and is connected to the citys electricity and utility grids.        Description of Company and Purpose of Project    	The project will diversify the Companys existing tanning activity to include leather garmenting.  The leather garments will be upper market and higher margined products, sold initially to the local and regional market and, subsequently, to European markets.  IFC and its technical consultants have advised the Company on redesigning the project into a two phased approach more in line with conservative financial and marketing parameters.  IFC has also introduced the Company to European specialists who can provide technical, training, and marketing assistance.  The project would be the first large private leather garmenting operation in Mongolia and an example for future companies to follow, thereby adding value to the countrys important livestock industry.       Environmental Category and Issues    	This is a Category B project.  Environmental, health, and safety issues associated with this project include proper treatment and disposal of liquid and solid wastes and gaseous emissions, general worker health and safety, and fire protection.    The  is  from the Public Information Center.       Date SPI sent to PIC     December 12, 1996      For Additional Information contact:  Corporate Relations Unit -   telephone: (202) 473-7711   facsimile: (202) 676-0365  Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).