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Central Government/Public SectorProject Information
MON: LOAN TO KHAN BANK
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$ 1 Cr
$ 10 Mn
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08-May-2017
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PID : 9486
Not Classified-Mongolia
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Description |
The transaction will provide a US dollar-denominated unsecured loan of up to $10 million to Khan Bank in Mongolia with a maturity of six years. The loan will fund Khan Bank's US dollar lending activities, particularly to its corporate clients. |
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Objectives and Scope |
ADB's objective in the transaction is to improve financial sector efficiency and depth, and contribute to diversification of the Mongolian economy. The growth of larger corporations is essential to the sustainable diversification of the economy. The growth of coporations is conditional on the availability of corporate lending services and financial services that meet the specific needs of larger companies. |
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Linkage to Country/Regional Strategy |
The loan contributed directly to the implementation of ADB's country strategy and program (CSP) by strengthening financial intermediation for businesses and fostering economic diversification. The ADB intervention assists in deepening financial markets and providing long-term finance that meets the needs of entities that are most likely to provide much-needed diversification of the Mongolian economy. |
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