The international relations of MIK HFC LLC have expanded considerably in recent years, with prestigious international financial organizations such as KfW, IFC, EBRD, and USAID implementing many partnership projects and programs. We are members of international organizations such as the Asia Pacific Union for Housing Finance, Housing Finance Network (HOFINET), and International Union for Housing Finance (IUHF).
We have successfully implemented a housing microfinance project with the international financing corporation ShoreBank, and established a handbook in Mongolian based on market research. .
We have cooperated with Malaysia’s Cagamas Housing Finance Corporation, which is known as one of Asia’s best and biggest ABS issuers, for technical assistance with Mongolia's mortgage financing sub-program.
At MIK’s initiation, the first Asia Pacific Union for Housing Finance forum for the East Asian region was organized in Mongolia on the 27th-29th of June 2011. Delegates from India, Thailand, Indonesia, the Philippines, Malaysia, Japan, Azerbaijan, and Kenya participated in the forum, in addition to domestic delegates. This was an effective forum where delegates learned about international practices in housing finance, exchanged information, and created an integrated database.
Within the framework of the Supporting the Mortgage Market project financed by KfW, we have invited asset appraiser advisors to Mongolia for technical assistance. We also organized the International Standards for Asset Assessment seminar in cooperation with the Ministry of Finance and MICA. We also invited a risk advisor from Goethe University of Frankfurt in Germany to analyze MIK’s risk policy and operations. Based on this due diligence, we created a course for MIK employees and introduced a risk assessment and pricing model, and are using this model for our financial outlook.
As a result of meetings with USAID and our 2010 request for cooperation, their advisors have worked with MIK. As a result of this cooperation, USAID agreed to guarantee 4 million USD for bonds issued by MIK. The parties signed an agreement on the guarantee on September 29, 2011.
We established cooperation with EBRD to provide the people of Mongolia with housing through the financial market, to introduce the Mongolian mortgage market as an accountable investment market, and to conduct a study of the Mongolian housing market and conditions for financing.
We joined the HOFINET database as a representative of Mongolia, and are constantly updating information on the Mongolian housing market.
Throughout our experience of implementing two projects successfully with the IFC, we are planning for the further development of our cooperation.
We are in discussions with the ADB to cooperate in a number of ways, such as establishing a guarantee fund and addressing increasing demand for housing finance in small towns.
The international relations of MIK HFC LLC have expanded considerably in recent years, with prestigious international financial organizations such as KfW, IFC, EBRD, and USAID implementing many partnership projects and programs. We are members of international organizations such as the Asia Pacific Union for Housing Finance, Housing Finance Network (HOFINET), and International Union for Housing Finance (IUHF).
We have successfully implemented a housing microfinance project with the international financing corporation ShoreBank, and established a handbook in Mongolian based on market research. .
We have cooperated with Malaysia’s Cagamas Housing Finance Corporation, which is known as one of Asia’s best and biggest ABS issuers, for technical assistance with Mongolia's mortgage financing sub-program.
At MIK’s initiation, the first Asia Pacific Union for Housing Finance forum for the East Asian region was organized in Mongolia on the 27th-29th of June 2011. Delegates from India, Thailand, Indonesia, the Philippines, Malaysia, Japan, Azerbaijan, and Kenya participated in the forum, in addition to domestic delegates. This was an effective forum where delegates learned about international practices in housing finance, exchanged information, and created an integrated database.
Within the framework of the Supporting the Mortgage Market project financed by KfW, we have invited asset appraiser advisors to Mongolia for technical assistance. We also organized the International Standards for Asset Assessment seminar in cooperation with the Ministry of Finance and MICA. We also invited a risk advisor from Goethe University of Frankfurt in Germany to analyze MIK’s risk policy and operations. Based on this due diligence, we created a course for MIK employees and introduced a risk assessment and pricing model, and are using this model for our financial outlook.
As a result of meetings with USAID and our 2010 request for cooperation, their advisors have worked with MIK. As a result of this cooperation, USAID agreed to guarantee 4 million USD for bonds issued by MIK. The parties signed an agreement on the guarantee on September 29, 2011.
We established cooperation with EBRD to provide the people of Mongolia with housing through the financial market, to introduce the Mongolian mortgage market as an accountable investment market, and to conduct a study of the Mongolian housing market and conditions for financing.
We joined the HOFINET database as a representative of Mongolia, and are constantly updating information on the Mongolian housing market.
Throughout our experience of implementing two projects successfully with the IFC, we are planning for the further development of our cooperation.
We are in discussions with the ADB to cooperate in a number of ways, such as establishing a guarantee fund and addressing increasing demand for housing finance in small towns.
