ADRA Microfinance Project Reaches Into All Districts of Ulaanbaatar
ADRA Mongolia’s Micro Economic Development Program works in all the districts of Ulaanbaatar city which includes 6 districts and 75 ger sub districts (a sub district made up of Mongolian traditional felt houses). They make contracts with the district governors so that they are able to reach more families.
On January 28, ADRA Mongolia renewed the contracts for 2010 and discussed the outcomes of 2009. Now, small business owners and people who want to start a small business have official access to ADRA Mongolia’s information, advice, training and even bank loans and savings. With the MED Program and the Government working together, this creates a positive environment and good conditions for small businesses and it also creates a faster way to reach the target beneficiaries. In the year 2009, the Micro Economic Development Program together with district Governors and Xac Bank, trained 752 micro business owners. Of the 752, 134 of them were able to access a small loan from Xac Bank of around 205 million tugrug (around $142,000 USD) to be used for the development of their small businesses. The Micro Economic Development Program is funded by ADRA International, ADRA New Zealand, ADRA Switzerland, ADRA Australia, the Voluntary Agency Support Services (VASS) and Deka Foundation.
