REG - ICFG Limited - Invescore NBFI Secures US$20m Funding

ICFGAnnouncement

27/08/2025 07:00

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RNS Number : 7026W  ICFG Limited  27 August 2025

27 August 2025

ICFG Limited

("ICFG" or the "Company")

Invescore NBFI Secures US$20 Million Funding from FMO Entrepreneurial
Development Bank

ICFG is pleased to announce that its 80.49% owned Mongolian subsidiary,
Invescore NBFI JSC ("Invescore NBFI"), has received a US$20 million equivalent
financing facility from FMO Entrepreneurial Development Bank, based in the
Netherlands (the "Facility").

The Facility is a senior loan denominated in MNT, with a term of five years.
In line with FMO's sustainability mandate, at least 10% of the funding will be
allocated to green initiatives, following the 'FMO Master Green List'. The
remaining 90% will be directed toward micro sub-loans and SME sub-loans,
targeting underserved agricultural, rural, women-led, and youth-owned
businesses, which directly supports both financial inclusion and climate
action objectives. The development of SMEs is essential for the
diversification of Mongolia's economy, which remains heavily reliant on the
mining sector. The green financing component will further contribute to
environmental sustainability.

In June 2025, Invescore NBFI also secured an additional MNT-denominated loan
equivalent to US$3 million from EMF Microfinance Fund, AgmvK ("EMF"). This
marks the sixth round of financing from EMF, bringing the total funding
received from the fund to the equivalent of approximately US$16 million. The
new EMF funding will be used to further strengthen support for micro SMEs
("MSME"), a key driver of Mongolia's economic development through business
growth, job creation, and social impact.

For further information, please contact:

ICFG Limited

Via IFC

Enkhmaral Batkhuyag, Interim CEO

Strand Hanson Limited (Financial Adviser)

Rory Murphy / Abigail Wennington / David Asquith

+44 (0) 207 409 3494

Novum Securities (Broker)

Jon Bellis / Colin Rowbury

+44 (0) 207 399 9400

IFC Advisory Limited (Financial PR and IR)

Tim Metcalfe / Zach Cohen

+44 (0) 203 934 6630

About InvesCore NBFI JSC

Founded in 2014, Invescore NBFI is the largest non-bank financial institution
(NBFI) in Mongolia, representing approximately 13% of the sector's assets and
loan portfolio. As of 2024, the company operated 16 branches and 7 business
centres, serving more than 82,000 clients in Mongolia and across Central Asia
through its subsidiaries. Invescore NBFI provides a broad range of financial
products, with a strong emphasis on lending to the MSME segment. Invescore
NBFI remains committed to expanding its operations and strengthening
partnerships with global financial institutions, with the goal of enhancing
its impact on Mongolia's financial sector and contributing positively to
sustainable economic development.

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