Mongolia Joins Women Entrepreneurs Finance Code Program

• The launch of ‘Women Entrepreneurs Finance Code’ Program took place at the State Palace of Mongolia.
• The ceremony was held under the patronage of Chairman of the State Great Khural (Parliament) of Mongolia

The ‘Women Entrepreneurs Finance Code’ Program’s Launching Ceremony was held at the State Palace of Mongolia under the support of Amarbayasgalan Dashzegve, Chairman of the State Great Khural (Parliament) of Mongolia. The event took place on April 16, 2025.

During the opening ceremony, Amarbayasgalan, the speaker of the Parliament stated that the international community is continuing to put efforts for creating a legal environment that focuses on ensuring gender equality with regards to women-owned enterprises while small businesses that are led by women are emerging in business practice as well as the legal environment.

He said, “Mongolia adopted the Law on Ensuring Gender Equality in 2011 and has been paying attention to ensuring gender equality in every sector. A study conducted by the Institute of Market Training and Research of the University of Finance and Economics shows that the main challenges for women entrepreneurs include lack of collateral, weak financial education, limited business networks and markets, gender stereotypes, and lack of a favorable legal environment.”

Showing hope for the projects and programs, Amarbayasgalan voiced for ‘Women in Business’ and ‘Women Entrepreneurs Finance Code’ which are being implemented by the European Bank for Reconstruction and Development, contributing to crushing these difficulties

Additionally, European Bank for Reconstruction and Development has signed a MoU (Memorandum of Understanding) with the Bank of Mongolia on Joining the ‘Women Entrepreneurs Finance Code’ Program in September 2024.

The speaker added, “The Bank of Mongolia will act as the national coordinator of the program. We are working on formulating a roadmap and plans to coordinate the program with other policies and strategies. Moreover, we are collecting and analyzing data on women entrepreneurs and focusing on increasing financial access for women entrepreneurs.”