Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner. 


Partner Description:

VisionFund Mongolia was established in 2004, as a program of World Vision International Mongolia. The organization became a regulated NBFI in 2006 under the supervision of the Financial Regulation Commission. VFMN is currently 100% owned by VisionFund International, a subsidiary of World Vision International. The primary focus of this microfinance institution is on the needs and well-being of poor families and communities - providing financial services to people who would otherwise have little or no access to credit. To date, VFMN has been operating successfully through nine branches, including four branches in Ulaanbaatar, and five branches in the rural areas with two representative offices.


Post pandemic, VisionFund Mongolia has developed a strategy meant to bring them back to the Top3 Mongolian MFIs. This strategy is supported by reputable international financiers such as the European Bank for Reconstruction and Development. A part of this strategy is to explore new niches by developing new products, which target new segments of the Mongolian underserved population. 


A unique lending approach:

Until recently, VisionFund Mongolia provided lending exclusively to groups in the rural areas formed for this purpose. As of today, VisionFund Mongolia has also developed an individual type of lending. They serve those who used to get loans from the group lending as well as other entrepreneurs from the communities served. All loans, regardless of the type of lending used, are lent to unbankable people and disadvantaged groups such as women and youth. 



Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva Jan 7, 2023 Oct 12, 2005
Total Loans $1,034,220 $2,042,136,830
Amount of raised Inactive loans $0 $356,500
Number of raised Inactive loans 0 209
Amount of Paying Back Loans $753,485 $157,764,155
Number of Paying Back Loans 842 189,647
Amount of Ended Loans $280,735 $1,843,227,680
Number of Ended Loans 325 2,482,067
Delinquency Rate 0.11% 12.57%
Amount in Arrears $636 $12,137,711
Outstanding Portfolio $483,124 $96,544,828
Number of Loans Delinquent 8 65,899
Default Rate 0.00% 1.82%
Amount of Ended Loans Defaulted $0 $33,582,045
Number of Ended Loans Defaulted 0 88,667
Currency Exchange Loss Rate 0.00% 0.47%
Amount of Currency Exchange Loss $59 $12,608,670
Refund Rate 0.42% 0.54%
Amount of Refunded Loans $4,375 $10,935,995
Number of Refunded Loans 5 9,668

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 69.68% 78.46%
Average Loan Size $886 $393
Average Individual Loan Size $886 $586
Average Group Loan Size $0 $1,910
Average number of borrowers per group 0 8.3
Average GDP per capita (PPP) in local country $5,900 $5,594
Average Loan Size / GDP per capita (PPP) 15.02% 7.02%
Average Time to Fund a Loan 18.63 days 9.11 days
Average Dollars Raised Per Day Per Loan $47.55 $43.11
  Average Loan Term 22.79 months 11.5 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 51 1,216,330
  Journaling Rate 13.89% 41.89%
  Average Number of Comments Per Journal 0.00 0.02
  Average Number of Recommendations Per Journal 0.00 0.55

Borrowing Cost Comparison (based on 2009 data)

    This Lending Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower N/A 38.00% PY 26.44% PY
  Profitability (return on assets) 4.58% 5.8% -1.32%
  Average Loan Size (% of per capita income) N/A 156.00% 0.00%

Country Fast Facts

Lending Partner Staff

Munkhjavkhlan Baatar
Navchaa Badral
Tsenguun Bayaraa
Tsogtbayar Ganbaatar
Ganmurun Sukhbaatar