Private Sector Development Credit II

closed

The Second Private Sector Development Credit Project for Mongolia aims to continue to support the Mongolian government and commercial banks' efforts to develop the intermediate-term lending market for Mongolia's private sector. The project has the following components: Component 1) the line of credit will support the growth of Mongolia's private sector by providing longer-term financing sources for their capital investment needs without distorting the local market. Component 2) will support Participating Financial Intermediaries (PFI) and Bank of Mongolia (BOM) institutional capacity development through consultant services, system upgrading and staff training. Component 3) will support the government's efforts to better manage, monitor and evaluate project implementation. It will help finance the cost of (i) a local consultant to be engaged by the Ministry of Finance (MOF) as the Project Coordinator; (ii) staff training and workshops; (iii) annual project audits; and (iv) incremental operating expenses for limited project office supplies, project document translation and printing, and communication.