Bogd Bank Secures US$15MM to Empower Women Entrepreneurs and Green Businesses in Mongolia

Delphos, a global leader in securing financing for development projects, announced that its client, Bogd Bank, a leading Mongolian commercial bank, has closed a US$15MM senior debt loan from the Asian Development Bank (ADB). This funding will support women-led micro, small, and medium-sized enterprises (MSMEs) and finance green projects across Mongolia, advancing sustainable development goals.

Delphos specializes in impact-driven investments, partnering with clients to unlock funding that drives economic growth, social progress, and environmental sustainability worldwide. With a proven track record in facilitating development finance, Delphos has been instrumental in connecting Bogd Bank with crucial funding partners.

This latest financing arrangement will directly address the challenges faced by women-led MSMEs in Mongolia, who often struggle to access the financial resources needed to grow their businesses.

“Pearl Dairy is a perfect example of an impact story where investment in modernizing the dairy value chain creates significant economic returns for the community and the country as a whole. IFC and FMO’s financing will enable Pearl Dairy to expand across the continent. We believe that those that achieve inclusive growth can make significant economic returns for their community. “Said Delphos Chairman and CEO, Bart Turtelboom.

The transaction is expected to have significant impact in both Kenya and Uganda, helping to increase smallholder farmers’ access to the raw milk market in both countries. In the past 37 years, Delphos has raised US$4.7+B in financing for transactions across the African continent.  It has continued to contribute to SDG Goal 2, alleviating hunger in emerging economies, by actively participating in agricultural production growth.  The Ugandan agricultural sector continues to be the most important sector; it employs approximately 72% of the population and contributes about 24.1% to the GDP. Uganda’s dairy sector is now valued at US$3.8B while the export portion brings in US$106.2MM per year. Milk and dairy products are crucial allies against hunger and food insecurity.

By bridging this funding gap, the initiative will empower female entrepreneurs and foster greater gender equality in the Mongolian economy. Furthermore, the focus on green projects underscores a commitment to environmental sustainability and aligns with Mongolia’s climate action goals.

• The funding will provide much-needed capital for women-led MSMEs.
• A range of environmentally focused initiatives will receive support.
• The initiative is expected to contribute to job creation and economic growth in Mongolia.

“We are proud to have facilitated another important financing arrangement for Bogd Bank,” commented Bart Turtelboom, Delphos’ CEO. “By empowering women-led MSMEs and supporting green initiatives, this partnership will have a lasting positive impact on Mongolia’s economy and environment. We look forward to continuing our collaboration with Bogd Bank to drive sustainable regional growth.”

This latest collaboration builds on a strong partnership between Delphos and Bogd Bank, dating back to 2021. In September 2022, Delphos arranged a US$15MM senior debt facility from the U.S. International Development Finance Corporation (DFC) for Bogd Bank, also earmarked for on-lending to women-led SMEs and green projects.

About Bogd Bank:
Bogd Bank is a leading financial institution in Mongolia that provides innovative banking solutions and promotes sustainable development. The bank is committed to supporting economic growth, primarily through empowering women entrepreneurs and financing environmentally sustainable projects.

About Delphos:

Delphos is a global leader in securing financing for development projects. Focusing on impact-driven investments, Delphos partners with clients to facilitate funding that supports economic growth, social progress, and environmental sustainability.

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