Empowering Central Asia’s Youth: Launch of the Youth in Business Programme
Empowering Central Asia’s Youth: Launch of the Youth in Business Programme
Transcapital NBFI LLC is thrilled to announce that the company is receiving unsecured loan of up to US$ 4 million (in MNT equivalent) to be provided under the FIF Youth in Business Programme in Central Asia (YiB CA), to on-lend to eligible micro, small and medium-sized enterprises led by young people under the age of 35 in Mongolia.
The European Bank for Reconstruction and Development (EBRD) organized the official launch event of Youth in Business Programme in Central Asia on December 12th 2023, in Tashkent, Uzbekistan. During the launch event, Altanzul Zorigt, the Chief Executive Officer of Transcapital, participated as a panelist and signed the loan agreement that incorporates technical assistance and benefit from the inclusion of an assessment and technology eligibility approach provided under the Green Economy Financing Facility Mongolia.
Transcapital, as one of the pioneering MFIs in Mongolia, has supported micro, small, and medium-sized enterprises (MSMEs) by offering tailored advisory and financing solutions, since 2001. These initiatives aim to help MSMEs develop new competencies, improve business performance, and unlock new growth opportunities.
Through this cooperation, youth MSMEs will benefit from various non-financial services aimed at supporting their growth trajectory, helping them develop entrepreneurial skills and know-how. The loan will enable young entrepreneurs to overcome barriers such as insufficient collateral, limited credit history and experience.
Transcapital looks forward to contribute to successful development of Mongolia's youth businesses and promote the transfer of skills to young business owners.
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For more information about the programme: https://www.ebrd.com/news/2023/ebrd-provides-footing-for-youthled-businesses-in-central-asia.html
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