Mongolia, Sept. 17 -- The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are promoting lending to micro, small and medium-sized enterprises (MSMEs) in Mongolia by introducing a new financing product, a portfolio risk-sharing framework.Through the framework, the EBRD will provide an unfunded guarantee of up to €25 million (US$ 29 million) on certain loans issued by one of the country's major lenders, XacBank.Under the arrangement, the EBRD will cover up to 50 per cent of XacBank's credit risk on newly issued MSME loans. XacBank is the first financial institution in Mongolia to partner with the EBRD on the risk-sharing framework.The loans will support the working-capital needs of domestic businesses,...