CBM, SMEDF sign cooperation pact

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The Ulaanbaatar-based Capital Bank of Mongolia and the Small and Medium Enterprises Development Fund (SMEDF) signed a cooperation agreement to promote SMEs in the country. In Mongolia, around 55,000 companies are actively operating out of 71,000 registered companies. Within this number, around 45,000 companies are operating in the field of SME. That is, 82% of companies within the active companies are SME operators. The main purpose of SMEDF is to develop the production sector, specifically to provide soft loans for environment-friendly productions, for equipment, technological advancement, and employment generation. CBM has implemented 27 projects and programs dedicated to SME operators through its branches and units with the cooperation of Mongolian government and international organizations. CBM will further participate in supporting the comprehensive projects and programs with the aim to regionally develop the SME which is the core for the development of country’s economy.

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