The FINANCIAL -- The EBRD is boosting the availability of local currency financing in Mongolia with a synthetic loan in Mongolian Togrog worth $8 million to XacBank for on-lending to local micro, small and medium-sized enterprises (MSMEs).

Established in 1998, XacBank is the second largest microfinance bank in Mongolia, with a wide network of branches throughout the country. The EBRD holds approximately ten per cent equity stake in XacBank.