FMO arranges $100m syndicated loan to XacBank

FMO has arranged a five-year $100 million syndicated loan to Mongolia's XacBank.

The Dutch development bank commited $65 million and mobilized funding from The OPEC Fund for International Development ($25 million) and The International Bank for Economic Co-operation commits ($10 million).

FMO says the facility strengthens XacBank’s long-term funding base and allow the bank to further grow and expand in its focus areas in retail, micro and small and medium-sized enterprises.

The funding contributes, among others, to Sustainable Development Goal 8: Decent Work and Economic Growth, SDG 10: Reduced Inequalities, as well as SDG 17: Partnerships for Goals.