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Fintech Asia Limited ( (GB:ICFG) ) has issued an update.
ICFG Limited’s Mongolian subsidiary, Invescore NBFI, has secured a US$20 million financing facility from FMO Entrepreneurial Development Bank, with a portion dedicated to green initiatives and the remainder supporting micro and SME loans in Mongolia. This funding aims to promote financial inclusion and climate action, contributing to the diversification of Mongolia’s economy beyond its reliance on mining. Additionally, Invescore NBFI received a US$3 million loan from EMF Microfinance Fund to bolster support for micro SMEs, further driving economic development through business growth and job creation.
More about Fintech Asia Limited
Founded in 2014, Invescore NBFI is the largest non-bank financial institution in Mongolia, holding about 13% of the sector’s assets and loan portfolio. The company operates 16 branches and 7 business centers, serving over 82,000 clients in Mongolia and Central Asia. It focuses on providing a wide range of financial products, particularly lending to the MSME segment, and aims to expand its operations and partnerships with global financial institutions to enhance its impact on Mongolia’s financial sector.
Average Trading Volume: 65,435
Technical Sentiment Signal: Sell
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