Summary
The transaction will provide a US dollar-denominated unsecured loan of up to $10 million to Khan Bank in Mongolia with a maturity of six years. The loan will fund Khan Bank's US dollar lending activities, particularly to its corporate clients.
Latest Project Documents
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| Project Name |
MON: LOAN TO KHAN BANK |
| Project Number |
41911-014 |
| Borrower/Company |
|
| Country |
Mongolia |
| Location |
Mongolia |
| Approval Number |
7259/2343 |
| Type or Modality of Assistance |
| 7259/2343 |
Loan |
US$ 10.00 million |
Approved |
|
| Strategic Agendas |
Inclusive economic growth
|
| Drivers of Change |
Private sector development
|
| Sector / Subsector |
Finance
- Banking systems and nonbank financial institutions
- Finance sector development |
| Gender Equity and Mainstreaming |
|
| Responsible ADB Department |
Private Sector Operations Department |
| Responsible ADB Division |
Private Sector Financial Institutions Division |
| Responsible ADB Officer |
Monisha A. Hermans |
| Project Sponsor(s) |
|
| 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. |
| 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. |
| 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. |
Safeguard Categories
| Environment |
FI |
| Involuntary Resettlement |
C |
| Indigenous Peoples |
C |
Summary of Environmental and Social Aspects
| Environmental Aspects |
Khan Bank is required to comply with the social and environmental laws and regulations of Mongolia and ADB policies, including the Environment Policy (2002), Involuntary Resettlement Policy (1995) and Policy on Indigenous Peoples (1998). |
| Involuntary Resettlement |
Khan Bank is required to comply with the social and environmental laws and regulations of Mongolia and ADB policies, including the Environment Policy (2002), Involuntary Resettlement Policy (1995) and Policy on Indigenous Peoples (1998). |
| Indigenous Peoples |
Khan Bank is required to comply with the social and environmental laws and regulations of Mongolia and ADB policies, including the Environment Policy (2002), Involuntary Resettlement Policy (1995) and Policy on Indigenous Peoples (1998). |
| Stakeholder Communication, Participation, and Consultation |
|
Timetable for assistance design, processing and implementation
| Concept Clearance |
03 Apr 2007 |
| Due Diligence |
06 Apr 2007 |
| Credit Committee Meeting |
-
|
| Approval |
02 Aug 2007 |
| PDS Creation Date |
04 May 2007 |
| Last PDS Update |
16 Sep 2014 |
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
None currently available.
Related Publications
None currently available.
The Public Communications Policy (PCP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
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