Achid Timeline

  • 2006

    January

    Buyant Manlai NBFI started its operation with 43 shareholders in Bayanhongor aimag as part of the “Rural Finance Company Project”

  • 2005

    December

    Khugjil Badrah NBFI started its operation with 7 shareholders, becoming the first soum based NBFI.

  • 2005

    November

    Achid’s delegates have participated in the UN Microfinance Forum held in New York, USA.

  • 2005

    October

    “Rural Finance Company Model” project commenced in Bayantsagaan soum of Bayankhongor aimag with the introduction of the project to its local community.
    “Khugjil Badrakh” NBFI has received special permission on loan and leasing services from Mongol Bank. The institution was established in Tarialan soum of Huvsgul aimag within the framework of “Rural Finance Company Model” project.

  • 2005

    September

    Achid has become a member organization of the Bank Training Center of the Mongol Bank.
    “Achid Org” and “Achid Eco” companies have officially registered.

  • 2005

    August

    Achid signed on a Memorandum of Understanding with the local representative office of UNDP to implement “Rural Financial Company Model” project.

  • July

    2005

    “Rural Finance Company Model” project commenced in Tarialan soum of Khuvsgul province with the introduction of the project to its local community.

  • 2005

    June

    Within the framework of the Microcredit Year, Аchid Finance Group and Mongol Post Bank opened a new “Microfinance Center” in Ulaanbaatar city.

  • 2005

    May

    Achid concluded a Strategic Partnership Agreement with the Mongol Post Bank.

  • 2005

    April

    Аchid Finance LLC became a member of the Mongolia Bankers Association (MBA).

  • 2005

    January

    The Canadian Cooperative Association accepted Аchid Consulting LLC as its official project implementing institution.

  • 2004

    November

    Achid successfully participated in the “Contest of New Ideas on Microfinance” announced by the Ministry of Social Welfare and Labor in the framework of the UNDP MICROSTART project (МОN 97/20), and has been rewarded by a funding to implement the “Rural Finance Company” project.

  • 2004

    November

    Achid co-organized a “National Summit on Microcredit and Entrepreneurship” by UNDP and National Coordinating Committee for the Year of Microcredit.

  • 2004

    September

    Became a member of the National Coordinating Committee of Microcredit Year.

  • 2004

    December

    Received special right to own the trademark of “AchidBanker” software.

  • 2004

    August

    Achid initiated a project to develop MIS software “AchidBanker” for Savings and Credit Unions and concluded a cooperation agreement with GrapeCity Mongolia LLC.

  • 2003

    December

    Achid developed the “Urban Credit Unions Development in Mongolia” project which received support from the Canadian Cooperative Association (CCA) to implement it.

  • 2003

    May

    Achid worked as a local consulting company for the “Pilot Study on Microfinance in Livestock and its Related Industries” project funded by the Japanese Bank of International Cooperation (JBIC).

  • 2003

    April

    Achid Consulting LLC has been established to provide microfinance consulting services and technical assistance.

  • 2003

    April

    Achid Finance LLC obtained official authorization from the Bank of Mongolia to conduct financial activities in the form of a non-bank financial institution.

  • 2003

    January

    Achid concluded a cooperation agreement with Southern Horizon Company of Philippines to introduce the “Microfinance MIS M2” software for microfinance institutions in Mongolia.

  • 2002

    December

    Achid Finance LLC was established and commenced its combined operations of financial consulting services and financing and investment.

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