Suu JSC signed first MNT loan equivalent to USD 12 million with Xacbank

B.Chimeg GoGo.mn

2019-02-06 11:33 GMT+8

Suu JSC signed first MNT loan equivalent to USD 12 million with Xacbank under EBRD's Risk Sharing Facility. The investment will finance the expansion of Suu’s production facilities, including its milk processing plant.

It will help procure new curd production equipment, milk collection and delivery trucks, new ice-cream production line and new warehouse for raw materials and finished goods.

The loan will also help Suu improve raw milk collection logistics from over 2,500 nomad herders half of which are women. Suu is the oldest dairy company in Mongolia and was founded in 1958. It sources its milk supplies from 19 collection points in the country and has more than 400 employees.

The EBRD works in Mongolia to support building a diverse economy by developing the private sector and supporting infrastructure improvements. The Bank has invested more than €1.6 billion in almost 100 projects in the country since it started operations in the country in 2006.

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