In 2025, the private sector of Mongolia demonstrated outstanding results, completing 40 deals that attracted $2.6 billion from international investors. This financing covered 19 companies across various sectors, and the DealBook report answers important questions for global investors: who raised capital, who invested, what the capital was raised for, and how the deals were structured.
🤑A Breakthrough Year for the Economy
In 2025, 19 companies in Mongolia successfully completed 40 deals, of which 32 were related to sustainable financing, with a total volume of $1.8 billion. In turn, $1.4 billion was obtained through loan operations, while $1.1 billion came from bond issuances. The remaining $21 million (1%) was raised through equity.
🗝️Key Facts:
40 completed deals
Total capital raised: $2.6 billion
19 Mongolian companies attracted foreign financing
🤝🏻Financing through 40 Deals
In 2025, 19 local companies executed 40 deals, of which 32 deals amounting to $1.8 billion were related to sustainable financing, while $1.4 billion was linked to loans and $1.1 billion to bonds. Only $21 million (1%) was raised through equity.
💰Major financing organizations: The European Bank for Reconstruction and Development (EBRD) and the Netherlands Development Finance Company (FMO) accounted for 34.6% of the total financing volume. EBRD allocated $346 million across 7 deals, while FMO invested $537 million in 5 deals.
Sector Analysis
Banking Sector: Seven banks in Mongolia attracted about $2.05 billion, confirming their role as the primary channel for international capital, aided by an improved sovereign credit rating and access to markets.
Non-Banking Financial Institutions (NBFIs): 8 NBFIs managed to attract $108 million, indicating growing investor interest in specialized and effective financial platforms.
Mining Sector: Mongolia issued bonds worth $350 million on the international market on behalf of a mining corporation.
Other Sectors: Financial technology, agriculture, and conglomerates collectively attracted $39 million, indicating an initial but growing diversification beyond traditional areas.
💵The Banking System Leads
In 2025, seven commercial banks, including M Bank and Bogd Bank, attracted $2 billion from international sources. KHAN Bank became the leader in lending volume with $515 million, followed by Trade Development Bank (TDB) with $460 million.
In Conclusion... In 2025, Mongolia reached a credit rating level of BB- (S&P) and B1 (Moody's), significantly contributing to attracting foreign investors. It is hoped that local companies will soon be able to conduct international IPOs and delight investors. 🚀
