(MENAFN- EIN Presswire)
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Delphos served as the exclusive financial advisor to Bogd Bank to secure a commitment from the U.S. International Development Finance Corporation (DFC)
Bogd Bank is one of the most dynamic bank in Mongolia. The DFC facility will enable Bogd Bank to expand its lending in the most impactful sectors, fostering sustainable economic growth.” — Andrew Brown, President of Delphos
LONDON, UNITED KINGDOM, September 26, 2022 /EINPresswire.com / -- Delphos, the leading DFI-focused financial advisory firm, advised Bogd Bank , a Mongolian commercial bank, in securing a commitment for USD 15 million in senior debt financing from the U.S. International Development Finance Corporation (“DFC”). Bogd Bank will use the facility to expand its lending to small and medium enterprises (“SMEs”) in Mongolia with a particular focus on women-owned businesses and business in the burgeoning green sector. This landmark financing will help Bogd Bank to grow its loan portfolio in impactful ways and amplify its ability to reach customers in rural areas through its expanding array of digital products and services. The USDFC loan is being provided in the context of greater financial liberalization for the Mongolian banking sector, including Bogd Bank's recent IPO.
“Bogd bank is thrilled to establish this partnership with DFC. It's an important milestone for our bank to showcase our commitment to promote inclusive and sustainable business growth in the SME and green financing sectors in Mongolia, while fostering job creation and overall development of the economy through providing long-term financing solutions. We hope to continue our aligned cooperation with DFC in the coming years.' said Bogd Bank's CEO, Saruul Ganbaatar.
Having worked with DFC many times before, Delphos is excited to connect another one of its clients with impactful financing.
“We are delighted to be assisting Bogd Bank, one of the youngest and most dynamically growing bank in Mongolia, in this landmark financing. SMEs are the backbone of Mongolian economy. The DFC facility will enable Bogd Bank to expand its lending in the most impactful sectors, fostering sustainable economic growth.”, said Delphos' President, Andrew Brown.
The financing is expected to have a highly developmental effect on Mongolian economy expanding access to credit for SMEs in highly impactful sectors and fostering financial inclusion through reaching underbanked remote communities via innovative digital banking offerings. The transaction is directly contributing to several UN SDGs, including: fostering gender equality (SDG5), reducing inequality (SDG10), climate action (SDG13), and decent work and economic growth (SDG8).
About Bogd Bank:
Founded in 2014, Bogd Bank LLC is a Mongolian commercial bank headquartered in Ulaanbaatar and specialized in corporate, retail, and SME lending. Bogd Bank is one of the youngest and most innovative commercial banks in the country. By making use of modern digital banking technologies, Bogd Bank has become the fastest growing bank in Mongolia, offering instant loan products and an automatic credit scoring system which streamlines the lending process while mitigating credit risk. Bogd Bank successfully completed its IPO in December 2021, becoming the first Mongolian bank to be listed on Mongolian Stock exchange as part of new banking reforms and achieving the biggest IPO in Mongolia to date
About Delphos:
Delphos is the definitive source for arranging innovative financial solutions for development companies and projects. We specialize in raising long-term, competitively priced capital for corporates, fund managers, developers, SMEs, sovereigns, and entrepreneurs around the world. Since 1987, we have arranged more than $20 billion in development finance to support the efforts of over 1,200 companies. We tap into the resources of more than 350 government agencies and multilateral organizations worldwide to help clients realize their international business goals and have sustainable impact. In addition to our capital raising efforts, Delphos provides market-leading transaction advisory and investment/risk management consulting services to government and private sector clients across multiple industries. We are approved advisors to AfDB, DFC, IDB Invest, IFC, USAID, US Ex-Im Bank, USTDA, WBG, leading private equity firms, infrastructure developers and strategic investors, and foreign governments and utilities.
Lauren Imparato
Delphos
+1 202-337-6300
email us here
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