EBRD keeps supporting Mongolian SMEs
EBRD keeps supporting Mongolian SMEs.
EBRD keeps supporting Mongolian SMEs. EBRD supported the expansion of Mongolian ice-cream maker Teso with local currency lending and business advice. With the support of the Early Transition Countries (ETC) Fund, EBRD helped the TESO Company improve its accounting through business advice and provided a US$5.5 million-equivalent loan in local currency. It helped Teso to purchase new equipment and install a new production line for higher quality ice-cream. This was the EBRD’s first corporate loan in Mongolia denominated in local currency. The company promotes the role of female employees, which has resulted in a high percentage of women in senior management positions. To boost private sector champions in countries at the early stages of transition to market economies, EBRD provides comparatively small- scale direct financing to medium and large-sized local enterprises.
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