GOBI JSC Secures Financing from the Asian Development Bank

We are pleased to share the exciting news that GOBI JSC has successfully secured financing from the esteemed Asian Development Bank. As the leading national producer,  our ongoing commitment on focusing on sustainable development and expanding our activities and promoting Mongolian cashmere worldwide, and our  has been further strengthened with this significant achievement.

Since 2019, our primary objective has been to accelerate our growth in the international market. In line with this strategic vision, we are delighted to have signed a long-term working capital financing agreement valued at $30 million USD with the Asian Development Bank, which will provide crucial support for our ambitious expansion plans.

With operations in key markets such as the European Union, England, America, China, and Kazakhstan, we are determined to enhance our brand recognition and market share in these regions. To achieve this, we are actively increasing our production volume and raw material procurement in a carefully planned manner.

Cashmere plays a pivotal role in the income of herding families in Mongolia, constituting an average of 30% of their household earnings. Through this financing agreement, we aim to have a positive social impact by directly increasing our cashmere purchases from herders, thereby supporting their livelihoods and income.

It is worth noting that approximately 50% of our sales income at GOBI is derived from foreign currency. By further strengthening our presence in the international market, this financing agreement not only benefits our organization but also contributes to improving the currency flow within the economy. It serves as an incentive to boost non-mining export income, thus fostering overall economic growth.

We are immensely grateful for this opportunity and remain steadfast in our mission to propel Mongolian cashmere as a global brand.