Delphos advises major Mongolian bank on $15m debt financing for green loans and SMEs




Delphos acted as the exclusive financial advisor to Bogd Bank in obtaining a commitment from the US International Development Finance Corporation (DFC)

Bogd Bank is one of the fastest growing banks in Mongolia. The DFC facility will allow Bogd Bank to expand its lending in the most impactful sectors, promoting sustainable economic growth.

—Andrew Brown, President of Delphos

LONDON, UK, September 26, 2022 / — Delphos, the leading financial advisory firm focused on DFIs, advised Bogd Bank, a Mongolian commercial bank, in securing a $15 million senior debt financing commitment from the US International Development Finance Corporation (“DFC”). Bogd Bank will use the facility to expand its lending to small and medium-sized enterprises (“SMEs”) in Mongolia with a particular focus on women-owned businesses and growing green sector businesses. This landmark financing will help Bogd Bank grow its lending portfolio in an impactful way and amplify its ability to reach customers in rural areas through its growing range of digital products and services. The USDFC loan comes against the backdrop of greater financial liberalization of the Mongolian banking sector, including the recent IPO of Bogd Bank.

“Bogd bank is delighted to establish this partnership with DFC. This is an important step for our bank to show our commitment to promoting inclusive and sustainable business growth in the SME and green finance sectors in Mongolia, while promoting job creation and the overall development of the economy by providing long-term financing solutions. We hope to continue our aligned cooperation with DFC in the years to come,” said Bogd Bank CEO Saruul Ganbaatar.

Having worked with DFC on several occasions before, Delphos is delighted to connect another of its clients with impactful financing.

“We are delighted to support Bogd Bank, one of the youngest and most dynamic banks in Mongolia, in this historic financing. SMEs are the backbone of the Mongolian economy. The DFC facility will allow Bogd Bank to expand its lending in the most impactful sectors, promoting sustainable economic growth,” said Delphos Chairman Andrew Brown.
The funding is expected to have a highly developmental effect on the Mongolian economy, expanding access to credit for SMEs in high-impact sectors and promoting financial inclusion by reaching underbanked remote communities through innovative digital banking offerings. The transaction contributes directly to several United Nations SDGs, including: advancing gender equality (SDG5), reducing inequalities (SDG10), climate action (SDG13) and decent work and economic growth (SDG8).

About Bogd Bank:
Founded in 2014, Bogd Bank LLC is a Ulaanbaatar-based Mongolian commercial bank specializing in lending to businesses, individuals and SMEs. Bogd Bank is one of the youngest and most innovative commercial banks in the country. Using modern digital banking technologies, Bogd Bank has become the fastest growing bank in Mongolia, offering instant loan products and an automatic credit scoring system that streamlines the lending process while mitigating credit risk . Bogd Bank successfully completed its IPO in December 2021, becoming the first Mongolian bank to be listed on the Mongolian Stock Exchange under new banking reforms and achieving the largest IPO in Mongolia to date

About Delphi:
Delphos is the definitive source for arranging innovative financial solutions for businesses and development projects. We specialize in raising long-term, competitively priced capital for corporations, fund managers, developers, SMEs, sovereigns and entrepreneurs worldwide. Since 1987, we’ve arranged more than $20 billion in development funding to support the efforts of more than 1,200 companies. We draw on the resources of more than 350 government agencies and multilateral organizations around the world to help our clients achieve their international business goals and achieve lasting impact. In addition to our capital raising efforts, Delphos provides market-leading transaction advisory and investment advisory/risk management services to public and private sector clients across many sectors. We are approved advisors to AfDB, DFC, IDB Invest, IFC, USAID, US Ex-Im Bank, USTDA, WBG, major private equity firms, infrastructure developers and strategic investors, as well as governments and foreign public services.

Lauren Imparato
+1 202-337-6300
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