Microfinance Development Fund /MDF/ was established in 2002 in the framework of the Sustainable Livelihoods Project, which is jointly implemented by the Government of Mongolia and the International Development Association of the World Bank, European Association, and Human resource and the policy development fund of the government of Japan in order to expand the outreach of microloans and support the sector development.
MDF disburse wholesale loans to financial institutions in order to expand financial sources and increase household revenues. We also organize training courses to increase consumer financial education in rural communities, to support local micro-businesses, and to strengthen the development of microfinance sector in Mongolia.
Microfinance development board /MDB/
The MDF is administrated by the Microfinance Development Board which supervises the activities of MDF and gives direction on strategic issues. MDB members are composed from Bank of Mongolia, Ministry of Finance and Economy, Financial Regulatory Committee, and Mongolian National Chamber of Commerce and Industry, Non-government organization and from private sector.
To involve the people of Mongolia in loan and other financial services suitable with consumer’s rights and purchasing capacity, to provide them with an opportunity to own a property, to support the development of Mongolia until its development phase.