The Trade and Development Bank (TDB), in collaboration with the Ulaanbaatar City Small and Medium-sized Enterprise Support Center (SME Support Center, NONG) and the Credit Guarantee Fund, has announced the launch of a financial support program for SMEs in Ulaanbaatar. The “Financial Support Agreement for Small and Medium-sized Enterprises and Service Providers in Ulaanbaatar City” was officially signed by the parties on November 12, 2024.
The aim of this initiative is to provide low-interest and preferential loans to SMEs as part of the “Plan to Enhance the Competitiveness of Small and Medium-sized Enterprises and Service Providers in Ulaanbaatar City,” implemented by the SME Support Center, NONG. This program seeks to make a tangible economic impact by boosting the competitiveness of SMEs in the capital city.
Additionally, SMEs participating in the first phase of the program will join the “Competitiveness Enhancement Training and Consultancy Services,” conducted jointly by TDB, SME Support Center, and the German Agency for International Cooperation (GIZ). This training will equip participants with essential skills such as business planning, operational organization, leveraging investment opportunities, brand development, market research, negotiation strategies, marketing planning, contract law, and legal regulations.
Through this program, TDB aims to support SMEs by offering preferential loans tailored to their specific needs. This initiative is expected to enhance the market competitiveness and economic capacity of business owners while contributing to national policies supporting the sector, marking a significant step forward in fostering SME growth and development.