As part of the USAID-funded Mongolian Economic Policy Reform and Competitiveness Project (EPRC), Crimson experts recently assisted the Government of Mongolia (GoM) in addressing the impacts of the financial crisis through refinement of a proposed Bank Restructuring and Recapitalization Program. Through the Program, the GoM will provide temporary financial assistance to targeted, undercapitalized banks in exchange for equity securities, debt securities or a combination thereof.

Crimson assistance included developing a model investment structure and contract between banks participating in the Program and the GoM. Crimson experts also developed corresponding regulations on loan review, asset classification and asset provisioning and provided extensive commentary on proposed new regulations on bank licensing.