Ulaanbaatar – Today, Arig Bank and UNFPA signed the MOU which formalizes the partnership and a shared commitment to the development of young people and supporting victims of violence in Mongolia.  Through UNFPA, Arig Bank will provide financial literacy training to the staff and youth from the three UNFPA-supported Youth Development Centers (YDCs) in Ulaanbaatar, namely in Bayangol, Chingeltei and Khan-Uul districts. Additionally, the training will also be open to women and girls serviced by the UNFPA-supported One Stop Service Centers for victims of domestic violence in Ulaanbaatar, to help them gain financial and economic independence.

This free access to Arig Bank’s bi-weekly training courses and workshops for their employees on such practical skills as financial literacy and personal wealth management will be shared with the youth from the YDCs throughout 2017.  Under UNFPA’s Youth Development progamme, YDCs were established to provide a venue and opportunities for life skills education, practical job skills training, peer counseling and access to sexual and reproductive health information and services, in a safe and enjoyable atmosphere. To date, UNFPA and the Government of Mongolia, with support from the Swiss Agency for Development and Cooperation, the Government of Luxembourg, and Oyu Tolgoi LLC have established 16 YDCs throughout Mongolia.

Arig Bank also commits to bringing the Achilles International Mongolia running-walking-rolling program for disabled youth to the YDC in Bayangol district. This program is designed to give disabled young people opportunities for regular exercise, helping them become stronger and healthier. This also trains them to compete alongside able-bodied runners and disabled racers alike and the Achilles International Mongolia has been organizing the Hope and Possibility Run event held in Ulaanbaatar yearly. Ultimately, this gives young people with disabilities a way to measure achievement at any level of participation, gain confidence through their successes, and have fun.

 “We are happy to partner with Arig Bank and recognize it as one of Mongolia’s companies leading the charge in Corporate Social Responsibility (CSR) through its integrated programme.“ says Naomi Kitahara, UNFPA Representative, “We have been fortunate to have had the support of other private sector partners and recognize the immense potential of what can be achieved through working together. As we welcome this partnership with Arig Bank, we hope this demonstrates that when we align our goals and combine our resources, much can be achieved. We hope too that this inspires more companies in Mongolia to become active stakeholders in the welfare its young people, especially those who are marginalized.”