KhanLex advised European Bank for Reconstruction and Development on its MNT 3,0 billion senior loan facility to the largest microfinance institution in Mongolia – Transcapital NBFI LLC.
Transcapital, one of the first and most reputable microfinance institutions in the country, has been an EBRD client since 2013. The loan is the fourth loan by EBRD to Transcapital enabling its long-standing client to increase customer base and reach additional under-served customers such as micro-enterprises in the poorer areas of Ulaanbaatar and the regions.
“We’re happy to continue assisting EBRD, the largest financial investor in Mongolia, in its private sector operations in Mongolia” said Uchralbayar Iderkhangai, Partner, who led the KhanLex team on this deal. “We’re also pleased to have been able to support Transcapital on this transaction which will further strength the micro enterprises in Mongolia.”
Amendments to Banking Act of Mongolia seek to introduce important reforms to both the banking sector and the securities market
On January 29, 2021, the Parliament of Mongolia approved amendments to the 2010 Banking Act