Under the programme, which we began in 2012 together with the Tsogttsetsii soum branch of XacBank, around ₮600 million in interest-free loans has been issued to 81 residents of six soums in Umnugobi aimag.

Around 200 business owners from Tsogttsetsii soum took part in the forum, held under the motto “Let us grow together”, sharing their experience and presenting their goods and services at a trade exhibition, as well as hearing new and interesting information from business advisers and mentors who travelled from Ulaanbaatar. During the discussion it was encouraging for participants to hear that most of the local small businesses supported by the programme have grown and expanded, broadened their range of products and services and gained regular customers not only in Tsogttsetsii but in neighbouring soums as well.

It proved a productive event, with participants discussing together the challenges and opportunities in developing SMEs locally and agreeing recommendations and solutions. Our thanks to the Governor’s Office of Tsogttsetsii soum, to Thiess and to everyone at the Tsogttsetsii branch of XacBank for jointly organising the first “Let us grow together” forum for local SME owners so successfully.