PROJECT

Projects

Summary of Investment Information

Project Number

31865

Company Name

XACBANK JOINT STOCK COMPANY

Date SPI Disclosed

Apr 17, 2012

Country

Mongolia

Region

East Asia and the Pacific

Projected Board Date

May 21, 2012

Environmental Category

FI-2 - Limited

Status

Pending Signing

Last Updated Date

Nov 30, 2016

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Jun 11, 2012

Sector

Commercial Banking - Microfinance and Small Business

Project Description

The Project is to extend an up to $50 million senior loan facility to XacBank (the “Bank”) to support the Bank''s lending to small-, and medium-sized enterprises (“SME”) over the next five years. XacBank was established in October 2001 and has been an existing IFC client since 2002. The Bank seeks to aggressively grow its SME lending business over the next five years, and is thus in need of additional funding to make this possible.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation