NTV (New Television, Mongolia): The Young Global Leaders have successfully completed their 28th program in Mongolia, during which the participants focused on crafting creative solutions for SME financing for the country's rural population. 30 professionals from world-renowned companies have gathered in Mongolia in cooperation with TenGer Financial Group and Frontier Securities and drafted the a blueprint for a social impact investment fund. They believe the project is much needed given the current situation in the country where leadership and good corporate governance is lacking.
Chandran: One of the take-aways from this programme was to bring business professionals from fast-growing countries to get them to understand diverse business issues and opportunities while learning from each others different cultures. Also, we hope that a social impact fund can be set up in Mongolia to facilitate its growth, and today we have presented the initial plan.
NTV: Participants have spent the past week in Mongolia meeting businesses, consumers and investors in Ulaanbaatar and also in rural areas. Although in the last few years the Mongolian economy has been growing rapidly, financing costs are high and funding sources scarce, providing challenging access to capital markets. The programme has helped local SMEs to meet with investors and allowed them to learn about new types of financing available for their businesses.