Ulaanbaatar
Low rate loans guaranteed to female business owners
Economy
Ulaanbaatar /MONTSAME/ Office of Mayor of Ulaanbaatar together with the Asia Foundation and the Korea International Cooperation Agency (KOICA) has established a Women’s Business Center (WBC) in 2016.
The Women's Business Center (WBC) is a three-year long project to achieve women's economic empowerment in Mongolia through the growth of women participation in small and medium enterprises. Best business proposals are fostered in the Incubator for four months and professional trainings are provided. A partnership comprising Golomt Bank, Golomt Capital LLC, Development Solution NGO and Mongolian National Chamber of Commerce and Industry provide finance, business and marketing training.
The Women's Business Center (WBC) is a three-year long project to achieve women's economic empowerment in Mongolia through the growth of women participation in small and medium enterprises. Best business proposals are fostered in the Incubator for four months and professional trainings are provided. A partnership comprising Golomt Bank, Golomt Capital LLC, Development Solution NGO and Mongolian National Chamber of Commerce and Industry provide finance, business and marketing training.
As a result, 32 women are now prepared to start their own businesses and Asia Development Bank provided the initial financing.
Golomt Bank in cooperation with Government Agency for Labor and Social Care handed out certificates to the women to provide loans at 8.4 percent, the lowest interest rate of the Employment Promotion Fund. The Fund issues business loans up to MNT 10 million to individuals and up to MNT 20 million to organizations.
O.Onon
