Media contacts
For questions about financing or funding possibilities, business offerings and acquisition, please use the contact form.
The number below is for media inquiries only.
Monica Beek
Media Spokesperson
T: +31 70 314 9130
M.Beek@fmo.nl
FMO (the Netherlands Development Finance Company) has provided a 5-year USD 20 million combination of a subordinated Tier 2 (USD 10m) and senior (USD 10m) loan to Trade & Development Bank of Mongolia (TDB). TDB is one of the three large banks in Mongolia and the major corporate business bank in the country.
Mongolia experiences a mining-driven economic boom and TDB plays an essential role in fulfilling the strong economic potential of the country. By developing an Environmental and Social Management System (ESMS), TDB will set an important example in Mongolia’s relatively small domestic financial sector. FMO supports this process with a margin reduction incentive.
In addition, by providing Tier 2 capital we enable the bank to continue its successful growth trajectory. The transaction complements FMO’s Asian portfolio in Mongolia very well, since existing clients XacBank and KhanBank both have a strong focus on smaller SME’s and retail finance.
About TDB
TDB, with its leading position in universal banking, offers a full range of services, including large corporate, SME and retail lending and acts as a primary lender to most of the country’s leading corporations. The Bank has consolidated its market leading position in the handling of international trade finance and remittance, with access to credit lines from major international lenders and correspondent banking relationships with over 150 international financial institutions. TDB offers over 100 types of international standard banking products and has about 1000 highly qualified staff providing personal attention and user friendly banking services through a network of 43 branches and settlement centers. TDB is undoubtedly the major player in the financial and banking markets as well as a major innovator of the Mongolian financial sector.
About FMO
The Netherlands Development Finance Company (FMO) is the bilateral private sector development bank of the Netherlands. FMO invests in the private sector, which can serve as an engine of sustainable growth in developing markets. To this end, we provide capital, knowledge and partnerships to ambitious entrepreneurs. With an investment portfolio of € 5.9 billion, FMO is one of the largest bilateral private sector development banks worldwide. Our focus is on three sectors which create a high development impact: financial institutions, energy and agribusiness, food & water. This focus enables us to offer tailor-made finance solutions, based on real expertise. In other sectors, FMO teams up with renowned partners to combine local networks, knowledge and experience. We believe that our approach will lead to lasting economic and social development, which will empower people to employ their skills and improve their quality of life.