400 BILLION MNT LOAN WILL BE PROVIDED TO SUPPORT AGRICULTURAL PRODUCTION
This year, the Mongolian Government has decided to increase the number of soft loans to support agriculture and allocate 50 billion MNT for potato and vegetable growing by the government meeting.
Concessional loans to support agricultural production will be provided as following:
• 150 billion MNT with 2 years duration for cashmere preparation and process,
• 100 billion MNT with 2 years duration for agriculture and spring planting,
• 50 billion MNT with 2 years duration for potato and vegetable growing,
• 25 billion MNT with 2 years duration for wool preparation and process,
• 15 billion MNT with 2 years duration for leather preparation and process,
• 40 billion MNT with 1 year duration for flour, feed and vegetable oil therefore 3 percent of interest respectively through the commercial bank.
The government will provide 7.65 percentage points of the total loan interest rate.
March 16, 2022
