Bpifrance and the Credit Guarantee Fund of Mongolia join forces to strengthen the funding of Mongolian SMEs
Thanks to OECD and European union, Bpifrance initiate its first steps in Mongolia 3 years ago.
Tenacity paid off. October 22, 2019, Bpifrance signs a partnership with the Credit Garantee Fund of Mongolia, a young guarantee fund with goods fundamentals, supported by the Asian Development Bank ADB join forces.
Like any country, Mongolia wants to diversify its economy and develop job-creating growth by initiating various relevant actions both in the support of entrepreneurs and in credit guarantees.
Two axes corresponding to the core business of Bpifrance.
Bpifrance and the credit guarantee fund of Mongolia will work together on the key themes that make a guarantee fund successful like the management of financial resources, the management of guarantee commissions with bank partners, SME risk analysis and risk portfolio analysis and how to develop a win-win partnership with the banks that are the clients of the guarantee fund.
Thanks to this partnership with the Mongolian Credit Guarantee Fund and the very constructive relationship with the OECD, Bpifrance will actively participate in the upcoming Eurasia Week, organised by the OECD, next March 2020 in Georgia as part of the "Investment and Competitiveness in Central Asia" programme.
During this Eurasia Week, it will be also a great opportunity to meet guarantee funds from other countries such as Kazakhstan, Armenia, Uzbekistan, Georgia... Understanding this geographical area of the world will facilitate Bpifrance's international expertise activities.
But also, by working with the institutions of a country, Bpifrance contributes, in all humility, to the improvement of an ecosystem that could help its French entrepreneurs to develop in these countries.