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Ihbayar D. is 38 years old and lives with his wife and three children in Hovd province in western Mongolia. He and his family live in a ger, a traditional Mongolian housing tent. His daughter, Badamtsetseg, attends a local secondary school, and his younger daughter and son are in kindergarten. His wife, Odontuya, helps her husband with the family business.

Ihbayar manages a vegetable trading business. He plants and grows a variety of vegetables which he sells at the local market in his town. Ihbayar started his vegetable trading business in 2000 and has become an experienced grower over the years. This past season, he had the largest harvest he's ever had. Ihbayar is a very expeditious and level headed person. He is optimistic about the future and hopes to soon build a storage facility so he can preserve vegetables for sale during the winter. He is requesting a 1,300,000 Mongolian tugrug (MNT) loan to begin construction on his storage facility.

Additional Information

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.

About Mongolia

  • $5,900
    Average annual income
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,444,050
    Funds lent in using Kiva
  • 1,301.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Ihbayar beginning construction of a storage facility.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 23, 2010
Aug 27, 2010
Currency Exchange Loss:
Jun 24, 2011