Project Data Sheet

Project Data Sheets (PDS) contain summary information on the project or program: Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

PDS Creation Date 23 Aug 2006
PDS Updated as of 28 Aug 2006

Country Mongolia
Project/Program Number 35913-014
Status Approved
Geographical Location Ulaanbatar
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
Sector Finance
Subsector Banking Systems
Strategic Agendas
Drivers of Change
Gender Equity and Mainstreaming Categories

Project Sponsor

Gerald Metals, Inc.


Type/Modality of Assistance Approval Number Source of Funding Approved Amount (thousand)
PS7197Equity Investment
(Fully Disbursed)
USD 1,600
PS7197Private Sector Loan
(Fully Disbursed)
USD 4,500

Safeguard Categories

For more information about the safeguard categories, please see

Environment FI

Summary of Environmental and Social Issues

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples

Stakeholder Communication, Participation and Consultation


The objectives of the proposed investment include, (i) increased financial sector stability through bolstering the confidence in one of Mongolia's most important financial institutions and by extension in the whole sector, to be achieved through demonstrating to other potential investors and the banking public that ADB has confidence in the strategy and management of the market leader, and (ii) to open an avenue for feedback that ADB can utilize in evaluating the efficacy of past and ongoing initiatives in financial sector reform and development undertaken by its public sector operations.

Objectives and Scope

Project Rationale and Linkage to Country/Regional Strategy

Outputs and Implementation Progress

Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)
Status of Development Objectives
The privatization of Trade and Development Bank ( TDB ) has been successful. ADB assistance in TDB has contributed in creating an atmosphere of confidence for foreign investors in the banking sector. ADB, through its public sector window has continuously provided support to the Government of Mongolia ( GOM ) to develop a sound and broad-based financial sector through its program loans and technical assistance grants. As of 31 December 2005, there are around 17 commercial banks operating in Mongolia. Total assets of these banks have grown from 29.5% in 2004 to 42.3% in 2005. In view of significant changes in 2001 on loan regulation and collateral, net loan growth jumped from 28% in 2004 to 51.1% in 2005. TDB s market position has improved compared to year-end 2004. As of year-end 2005, TDB accounts for 19.7% market share of total assets, 20.8% market share of deposits, 32.1% market share of foreign assets and 19.2% market share of loans outstanding. TDB has demonstrated strongest earnings from among the seven biggest banks in Mongolia
Material Changes

Business Opportunities

Date of First Listing
Consulting Services
Procurement and Consulting Notices


Concept Clearance
Due Diligence Mission 09 Jun 2003
Investment Committee Meeting
Approval 20 Apr 2004

Contacts and Update Details

Responsible ADB Officer Steven Beck (
Responsible ADB Department Private Sector Operations Department
Responsible ADB Divisions Private Sector Investment Funds & Special Initiatives Div


Project Website
List of Project Documents