Asian Development Bank
The Asian Development Bank (ADB), established in 1966 and headquartered in Mandaluyong City, Philippines, is a multilateral development finance institution dedicated to promoting economic and social development in its developing member countries across the Asia and Pacific region. ADB provides a range of financial assistance, including loans, grants, equity investments, and technical assistance, aimed at addressing various development challenges. The bank focuses on key areas such as agriculture, education, energy, health, climate change, and infrastructure. It partners with member governments and other financial institutions to implement projects that foster economic growth and sustainable development. ADB also engages in policy dialogue and transaction advisory services to encourage public-private partnerships, while its strong credit rating enables it to mobilize funds through bond issues in global capital markets. With a network of 29 resident missions and several representative offices, ADB plays a crucial role in addressing the diverse needs of its member countries and enhancing regional cooperation.
XacBank is a prominent banking institution based in Ulaanbaatar, Mongolia, recognized as the fourth largest bank in the country. With a loan portfolio of 395 million USD, it serves approximately 298,000 borrowers and savers, achieving a yearly return on equity of 22%. The bank has shifted its focus from microfinance to small and medium-sized enterprises (SMEs), consumer lending, and mortgages, reflecting its adaptability to the evolving economic landscape driven by a growing mining sector. XacBank has invested significantly in enhancing its operational capabilities and technology to meet the needs of underserved populations, both in urban and rural areas. The bank is also engaged in facilitating access to affordable housing and environmentally friendly energy through government and developmental funds. Additionally, XacBank offers non-financial services, including financial literacy programs and business support, particularly to low-income customers in collaboration with non-governmental organizations.
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