Tavan Bogd is an official Toyota dealer in Mongolia
- EBRD extends US$ 15 million loan to Tavan Bogd
- Leading automotive retailer to double its service capacity
- New energy-efficient headquarters to be built
The European Bank for Reconstruction and Development (EBRD) is contributing to greater availability of licenced services for car maintenance and to more safety for motorists in Mongolia by extending a US$ 15 million loan to Tavan Bogd LLC (Tavan Bogd), a leading domestic automotive retailer and an official dealer of Toyota vehicles.
Tavan Bogd, part of the Tavan Bogd Group, the country’s largest group of companies involved in manufacturing, financial services, agriculture and tourism, will use the EBRD’s loan of up to US$ 15 million (€14 million equivalent) to finance the construction of its new automotive service centre.
The eight-story building, which will also house Tavan Bogd’s showroom and national headquarters, will be a purpose-built structure with a class-A Energy Performance Certificate. It will double the company’s capacity for car servicing, which currently stands at 100 vehicles per day.
The expansion will help Tavan Bogd to meet the growing demand for high-quality maintenance of four-wheel-drive Toyota cars. Mongolia’s difficult terrain makes them the vehicle of choice for many customers, particularly in rural areas.
To date, the EBRD has invested €2.4 billion in Mongolia’s economy through 145 projects. Around 90 per cent of these funds have been channelled to support private-sector companies.
