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Disbursement of MicroFinance Development Fund (MDF) loans to micro business entrepreneursFriday April 10th, 2015 08:01 AM

Ard Credit (hereinafter known as Ard) has received MNT 300 million funding from the MicroFinance Development Fund. The funding obtained from MDF will be utilized for providing financing to medium and low income citizens with the aim of promoting and improve living standards.

With help of its extensive networking channels, Ard not only provides microfinancing services to citizens in Ulaanbaatar city but also to citizens and households in remote parts of the country. Ganzorig Ch., CEO of Ard Credit, said “Our company strives reach out microfinance services to all citizens and entities using innovative solutions and practices. Today, we are one step closer to realizing our goal due to a close collaboration with the MDF”.

MDF is a professional microfinance fund founded in 2002 with the aim of reaching out to remote provinces of Mongolia to promote microfinance services through the use of domestic commercial banks and non-banking financial insitutions. The current project, called “Sustainable livelihood 2” is financed by the collaboration of World Bank and the Mongolian government.