PROJECT

Projects

Summary of Investment Information

Project Number

44118

Company Name

MCS (MONGOLIA) LLC

Date SPI Disclosed

Jun 30, 2020

Country

Mongolia

Region

East Asia and the Pacific

Environmental Category

B - Limited

Status

Active

Last Updated Date

Jun 12, 2021

Department

Regional Industry - MAS Asia & Pac

Industry

Tourism, Retail and Property

Previous Events

Approved : Nov 20, 2020
Signed : Dec 9, 2020
Invested : Mar 2, 2021

Sector

other

Project Description

IFC is providing support to a number of MCS businesses that have been negatively impacted by the Covid-19 pandemic and associated economic disruption. This includes funds for (i) recapitalizing MCS’ hospital subsidiary Intermed, (ii) working capital and liquidity support to MCS’ property and construction businesses, (iii) long term strategic digital investments and (iv) maintenance capital expenditure in MCS’ fast moving consumer goods (FMCG) and information and communication technology (ICT) subsidiaries. Once complete, the IFC financing will enable MCS to restructure its financial liabilities so that the average maturity of its debt repayments will be significantly extended.                                                

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation