Ulaanbaatar, February 24, 2022. VisionFund Mongolia was recently recognised by the European Bank for Reconstruction and Development (EBRD) for its commitment to staff training to better serve micro, small and medium enterprises (MSMEs).
Five financial institutions and 14 individual financiers from Mongolia received special awards for their active use of EBRD’s Regional Small Business programme (RSBP) online learning platform and outstanding achievements in accomplishing the RSBP’s training programmes.
Arah Sadava, CEO of VisionFund Mongolia, said “VisionFund Mongolia was one of the first users of the platform in 2019, and has since ranked among the most active financial institutions in the country. We are very pleased to be recognized by EBRD, since staff training is in the forefront of our strategy. Our staff learned so much from the RSBP training. We are very grateful.”
“The EBRD promotes better access to finance and expert advice for MSMEs through local financial institutions with good regional presence,” said Francis Malige, EBRD’s Managing Director for Financial Institutions. “We are doing this by providing local banks with dedicated on-lending funds and by offering them capacity-strengthening and institution-building measures.”
Mr Hannes Takacs, Head of the EBRD Resident Office in Mongolia said: “This excellent level of cooperation is perfect for future endeavours to provide better financial services to Mongolian small businesses and to improve knowledge and skills of local financial institutions.”
EBRD also extended special citations to two VisionFund Mongolia staff, Mr. Buyant Banzragch and Ms. Ariuntuya Tumurbaatar, for having completed many of the RSBP training modules.
About the EBRD RSBP for Mongolia
The key objective of the EBRD’s Regional Small Business Programme for Mongolia is to support MSME-related financing activity of local financial institutions by facilitating their access to such EBRD knowledge sharing products as credit analysis, risk management and client relationship. The RSBP offers an online platform for the staff of financial institutions, containing self-paced interactive online courses, video lessons as well as face-to-face interactive training.
Since the programme launch in 2018, there were over 4,800 training participations from all over Mongolia, representing 24 domestic financial institutions. More information about the RSBP and its training offer for financial institutions – http://www.rsbp-ca.org
About VisionFund Mongolia
VisionFund Mongolia (VFMN) is a non-bank financial institution targeting low-income groups in urban and rural parts of the country. VFMN started operations in 2004 and currently serves its clients through nine branches around the country. VFMN is a subsidiary of VisionFund International, one of the largest global microfinance networks.
Photo: L-R: From VisionFund Mongolia: Ariuntuya Tumurbaatar, Branch Manager and recipient of special citation, Arah Sadava, CEO, and Tsenguun Bayaraa, Finance Manager.