THE SUSTAINABLE FINANCING SYSTEM WILL BE ESTABLISHED IN THE CASHMERE INDUSTRY
The Ministry of Food, Agriculture and Light Industry, the Mongol Bank and Mongolian wool and cashmere association have a formed a working group to create the sustainable financing system regarding the cashmere preparation loan to support the non-mining export in 2023.
The working group met with representatives of the National reinsurance and domestic insurance organizations to ensure sustainable development of Mongolian cashmere industry, increase exports, develop the reinsurance system which meets the requirements of international standard and create the new financial mechanisms of supply chain.
In the meeting, the Senior specialist of light industry policy implementation management of MOFALI Bolormaa.V, Specialist in printing, package production Chuluuntsetseg.Ch, Export insurance director of National Reinsurance LLC Batbayar.B, Reinsurance manager Gantuya.B, Bayarmanlai.A, Executive director of Mongolian wool and cashmere association Altantsetseg.D, Administratives of Gobi, Cashmere Holding, Khanbogd Cashmere, Snow Fields, Baylag-Ulzii companies.
Furthermore, to introduce a sustainable financing system in the cashmere industry will develop a scheme to use movable property /export contracts, dehaired cashmere in warehouses, final finished products/ pledge as collateral, introduce good practices of the international supply chain and make the cashmere industry in benchmark, and agreed to hold the next meeting with the Mongol Bank.