EuroChamber was founded by leading European and Mongolian companies with a strong support from the EU Delegation, to contribute to positive business environment in Mongolia through its work as a united voice of European and Mongolian businesses, and to increase business between Europe and Mongolia.


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Event News

EuroChamber hosted “Funding HER Dreams,” a commemorative event in celebration of International Women’s Day on March 6th, 2024. The primary aim of “Funding HER Dreams” was to create a platform that not only honors International Women’s Day but also actively promotes and supports women by exploring opportunities for financial backing and investment in their businesses. To accomplish this objective, the event featured three panels.
In Panel 1, Ambassadors Axelle Nicaise (EU to Mongolia), Giovanna Piccarreta (Italy to Mongolia), and Sandra Choufani (Canada to Mongolia) presented initiatives from their respective countries aimed at investing in businesses led by women.
In Panel 2, Matilda Dimovska (UNDP Resident Representative in Mongolia), Rufat Alimardanov (IFC Resident Representative in Mongolia), Hannes Takacs (Head of EBRD in Mongolia), and T. Aldarsaikhan (Executive Director of Oyu Tolgoi Catalytic Fund) shared funding opportunities for women entrepreneurs.
In Panel 3, Bolorsaikhan Badamsambuu (Secretary and Head of the Office, National Committee for Human Rights), O. Bayarsaikhan (Chair of Gender Committee, ToC Association – Mongolian Sustainable Finance Association, and TDB), and Munkhdul Badral (CEO of Cover Mongolia ) participated. Here are some highlights from the event:
B.Munkhdul: The apparent reverse gender gap today, where women are more educated and men remain in the countryside, is a result of the lack of rights for women from the outset. In rural areas, women do not inherit anything, and even awards for prominent herders are given to husbands rather than wives, despite herding livestock being a joint effort.
For those men who feel threatened by strong women, I encourage you to change your perspective. Strong women are not only admirable but also attractive. Men who openly support feminism also project an appealing image and may find increased success in their personal lives. I wish I had been aware of this earlier in my own life.
O.Bayarsaikhan: While it may be perceived that women are dominant, especially in Mongolian households, the reality is different. According to the Global Gender Gap report, Mongolia ranks 80th out of 146 countries, indicating disparities in economic participation, educational attainment, and political empowerment. Although women may hold more power in households, societal gaps persist from centuries past, emphasizing the need for support for women.
Addressing gender issues is not merely an act of charity; it is an essential business perspective. From a banking standpoint, women are crucial customers because they tend to 1) deposit more money, 2) borrow manageable amounts and repay reliably, and 3) positively influence others if satisfied with banking services.
B.Bolorsaikhan: Gender equality is a fundamental aspect of human rights. The patriarchal mindset is deeply programmed, necessitating a shift in perspective. Various tools are available to facilitate this change.
UN Global Compact partipants from Mongolia including private actors;
Human rights impact assessment tool developed by National Human Rights Commission;
BHR knowledge pool for Mongolia;
UN SDCF 2023-2027 document;
National Action Plan on Business and Human Rights 2023-2027 adopted by the GoM;
National Action Plan on Open Government Partnership 2023-2027;
National Human Rights Action Plan’s intial draft led and developed by National Human Rights Commission;
National Committee for Human Rights’ YouTube Channel with various videos.
EuroChamber expresses its gratitude to IFC, Golomt Bank, Kite Mongolia LLC, and AKI International LLC for their sponsorship of the event.