The European Bank for Reconstruction and Development (EBRD) has signed a facility agreement with Golomt Bank, comprising a $20 million senior loan aimed at improving access to finance for women-led and youth-led businesses, along with a trade facilitation agreement to support Mongolia’s export and import activities. This strategic partnership reflects a shared commitment to strengthening financial inclusion and driving private sector growth across the country. The senior loan will be provided under two key programmes:
Central Asian Women in Business Programme (CA WiB) aims to promote female entrepreneurship and improve access to finance for women-owned micro, small, and medium-sized enterprises (MSMEs). Half of the funds will be dedicated to supporting the digitalization of women-owned MSMEs, enhancing their performance and operational efficiency. The programme is funded by the Women Entrepreneurs Finance Initiative (We-Fi), which plays a vital role in expanding opportunities for women in business, including initiatives that reward women-led companies successfully implementing digital solutions.
Youth in Business Programme (YiB CA) supported by the Japan-EBRD Cooperation Fund (JECF), is designed to assist businesses owned or managed by entrepreneurs under the age of 35. It provides tailored financial solutions and support to help young entrepreneurs grow and thrive.
This collaboration embodies the EBRD’s commitment to Mongolia by championing private sector development, advancing gender equality, and empowering the next generation of entrepreneurs. It also reflects Golomt Bank’s dedication to delivering innovative financial solutions and driving sustainable economic growth, creating opportunities that truly make a difference for businesses and communities across the country.
The Trade Facilitation Programme (TFP), granted by the EBRD to Golomt Bank, is designed to stengthen Mongolia’s export and import transactions by expanding access to international trade finance and enhancing business competitiveness. Through this trade line, companies will be empowered to reinforce supply chains, broaden market reach, and contribute to sustainable economic development.
Chief Executive Officer of Golomt Bank, Mr. Odonbaatar. A
“We are delighted to launch these important initiatives in partnership with the EBRD. This financing will open doors for many underserved businesses—especially women-led, youth-led, and SMEs—that often struggle to access the resources they need to grow. With the EBRD’s support, we can implement transformative opportunities that will strengthen Mongolia’s private sector and foster inclusive, sustainable economic development. We look forward to building on this collaboration and creating lasting impact together.”
Golomt Bank, committed to delivering innovative and inclusive financial services to its diverse customer base, sees this milestone as an opportunity to diversify both its financial and non-financial offerings, helping clients grow alongside the bank. Since 2022, Golomt Bank has focused on supporting women entrepreneurs by introducing tailor-made products designed to meet their unique needs. What began as a product has evolved into a broader mission. In 2023, the bank launched the “Women-Owned” certification mark to promote products and services of women entrepreneurs to the public, highlighting the importance of non-financial support for clients. This collaboration with the EBRD will further advance this vision by providing advisory and capacity-building services to participating businesses, with direct support from the EBRD. Notably, at least 30% of sub-borrowers under the YiB programme will be women, reinforcing the EBRD’s strong commitment to gender equality.
About We-Fi
The Women Entrepreneurs Finance Initiative (We-Fi) is a collaborative partnership among 14 governments (Australia, Canada, China, Denmark, Germany, Japan, the Netherlands, Norway, the Russian Federation, Saudi Arabia, Republic of Korea, the United Arab Emirates, the United Kingdom and the United States), eight multilateral development banks and other public and private stakeholders. Housed in the World Bank Group and launched in October 2017, We-Fi seeks to unlock billions of dollars in financing to tackle the full range of barriers facing women entrepreneurs-increasing access to finance, markets, technology, and mentoring, while strengthening policy, legal and regulatory frameworks.
For more information, visit: www.we-fi.org