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Mrs Olziibat is 50 years old lives with her three children in Ger, in the Bayanhongor province of Mongolia. Her older son, Onorjargal, is 25 years old and runs a charcoal and firewood retail business in the local market. Her daughter, Onormaa, is 21 years old and studies at university. Mrs Olziibat's young son, Chinbolor, is 8 years old and goes to local primary school.

Olziibat works at the local cafeteria as a chef and is now requesting loan of 500,000 MNt to pay her daughter's university tuition fees. She is a hard-working and modest woman.

Additional Information

More information about this loan

This loan is part of XacBank's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to secondary and higher education.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $350 helped Olziibat to pay her daughter's university tuition fees.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
May 21, 2013
Jun 26, 2013
Currency Exchange Loss:
Jun 12, 2015