Activity Description: The Phoenix Fund is a social entrepreneurship fund focused on creating economic opportunity and reducing global poverty. The fund makes seed capital grants administered by Mercy Corps field offices to implement innovative economic development pilot projects led by local entrepreneurs. Country Directors and their staff manage selected programs, sometimes in partnership with local organizations. The Fund offers strategic philanthropists a strong social return on donations by providing quantifiable results from projects, and by leveraging successful pilots to maximize impact and scale.

Activity Description: As the largest micro-finance institution in Mongolia, a country whose economy has traditionally been based on herding and agriculture, XacBank focuses on the socio-economic development of the country by providing comprehensive financial service access to all citizens, with special attention to previously underserved low-income and remote rural households. In addition to its development mission, XacBank seeks to maximize shareholder value, while creating a profitable and sustainable financial institution. With 63.3% of its loan portfolio comprised of micro-loans, XacBank provides 12 types of loans ranging from micro-credit loans to small and medium enterprise (SME) loans, and with an average loan size of US$665, manages an average repayment rate between 98 and 99%.