Home News and publicationsNewsFinnfund boosts green and women-owned enterprises in Mongolia with an Investment in XacBank News|29 January 2025Finnfund boosts green and women-owned enterprises in Mongolia with an Investment in XacBank Finnfund invests in XacBank, one of the leading banks in Mongolia, to boost green growth and lending to micro, small, and medium enterprises (MSMEs), especially those owned by women. Finnfund’s 10 million US dollar senior loan facility is part of an IFC-led USD 90 million syndicated loan package and eligible for the 2X Challenge gender investing initiative. XacBank will use 30% of this funding for on-lending to green projects the remaining 70% to MSMEs, of which 71%will be earmarked for women-owned ones. Green projects can include for example renewable energy projects and energy-efficient technologies. XacBank places a strong emphasis on supporting women-owned MSMEs. They provide targeted loans and financial services to help women entrepreneurs overcome barriers to credit and grow their businesses. XacBank has been in Finnfund’s debt portfolio since 2019. “We are happy to continue our cooperation with a well-run responsible lender in Mongolia with focus on important segments like MSMEs and women entrepreneurs as well as commitment to on-lending towards loan products with purpose to energy-efficient end usage, all of which are well aligned with Finnfund’s priorities” says Antti Partanen, Investment Manager at Finnfund. The loan package was also supported by a performance-based incentive from IFC, a member of the World Bank Group, as the implementing partner of Women Entrepreneurs Opportunity Facility (WEOF)—a partnership between IFC and Goldman Sachs 10,000 Women—and the Women Entrepreneurs Finance Initiative (We-Fi). XacBank was founded in 2001 and has a network of 73 retail branches and two business service branches across the country. XacBank is known for its commitment to sustainability and social responsibility and actively finances the green transition in Mongolia. More information:Antti Partanen, Investment Manager, Finnfund tel. +358 41 468 6333, antti.partanen@finnfund.fi Media contact:Valpuri Mäkinen, Communications and Marketing Manager, Finnfund tel. +358 50 384 2105, valpuri.makinen@finnfund.fi Kategoriat: NewsGender equalityRahoituslaitokset2024Asia Jaa: Link to Linkedin Link to Facebook Link to Twitter Link to Bluesky Viimeisimmät uutiset: News and publications News 11 February 2025 Heikki Cantell appointed as the new chair of the Finnfund Board of Directors Heikki Cantell, the General Counsel and Secretary General at the Nordic Investment Bank (NIB),… News 30 January 2025 Finnish investors support the electric vehicle business in India OP Finnfund Global Impact Fund I, the first Finnish global emerging markets impact fund,… News 29 January 2025 Finnfund boosts green and women-owned enterprises in Mongolia with an Investment in XacBank Finnfund invests in XacBank, one of the leading banks in Mongolia, to boost green… News 22 January 2025 Finnfund participates in a 200 million US dollar syndicated facility for Khan Bank to support green financing and MSME financial inclusion In a significant move towards sustainable development and economic empowerment, FMO, the Dutch entrepreneurial… News 20 December 2024 Finnfund’s website renewed Finnfund has renewed the company website. The aim has been to both renew the… News 19 December 2024 Finnfund’s AA+ rating affirmed by Fitch Ratings The credit rating agency Fitch Ratings has affirmed Finnfund’s credit rating at ‘AA+’ with… News 16 December 2024 Cassava Technologies receives USD 90 million equity investment for expanding digital infrastructure across Africa The U.S. International Development Finance Corporation (DFC), Finnish Fund for Industrial Cooperation Ltd (Finnfund),… News 16 December 2024 Survey: Finnfund valued as a partner – expertise and added value through cooperation Professional, responsible, innovative, reliable, and pragmatic. These are some of the characteristics attributed to… News 09 December 2024 Season’s Greetings Best wishes for the holiday season and a happy New Year! News 28 November 2024 Finnfund’s 10 million euro equity investment boosts the expansion of fiber network in Nepal Finnfund invests in WorldLink Communications Ltd, the largest internet service provider in Nepal and… Scroll left Scroll right