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Proparco and Golomt Bank partner for the first time in Mongolia to finance local SMEs and climate projects
As part of a USD 150 million loan syndicated by IFC, Proparco is participating alongside the impact fund BlueOrchard in its first financing operation with Golomt Bank. With a USD 30 million contribution, Proparco will support the bank in strengthening financing for climate-related projects and small and medium-sized enterprises (SMEs), which are a true driver of growth in the country, employing 70% of the workforce and generating nearly 18% of GDP.
The second-largest bank in the country, Golomt Bank stands out for its strong commitment to sustainable finance. It offers a well-developed range of green products - notably in leasing, car loans, and real estate - and provides non-financial support to SMEs, particularly those owned or managed by women, through networking events and advisory services.
Proparco’s USD 30 million loan will be dedicated to financing climate-related projects - particularly in the water and sanitation, green building, and energy efficiency sectors - as well as to supporting SMEs owned or managed by women, making the project eligible for the 2X Challenge.