Mongolia's Khan Bank has successfully closed two new international financing facilities right at the death for 2025.
Last week, the country's leading commercial lender announced a $100 million facility backed by Asian Development Bank (ADB), supporting agriculture finance focused on small and medium-sized rural enterprises, part of the ADB's broader 2028 Mongolia strategy partnership .
That was followed up this week, with another loan confirmed with FinDev Canada, a $50 million facility also focused on sustainable growth and split across defined priorities including climate mitigation and adaptation; women's entrepreneurship; and other underserved SMEs. The deal is Canada's maiden DFI engagement in the country, structured within a $250 million financing portfolio arranged by FMO, the Dutch entrepreneurial development bank.
“We are proud to make our first investment in Mongolia by partnering with Khan Bank, alongside FMO. By working together, we can advance climate action, improve financial inclusion, promote gender equality, and support women owned or led businesses. This partnership reflects our shared commitment to maximizing development impact, and supporting Mongolia’s long-term vision for sustainable economic growth,” said Lori Kerr, CEO, FinDev Canada.
The Central Asian market has drawn increasing interest this year from global investors, with several sovereign credit rating upgrades and diversification initiatives launched in Mongolia aimed at reducing dependency on its key metals and minerals mining industries.
