In 2023, a loan of 500 billion MNT will be provided for cashmere production.
The regular meeting of the government was held on 8th February 2023 and the following issues were resolved.
In recent years, the Government of Mongolia has been providing turnover loans to the cashmere industry in order to increase the competitiveness of national producers of cashmere processing in the raw material market and to support them with working capital.
In the framework of this goal, the Government has decided to grant turnover loans of up to 500 billion MNT to producers from international organizations such as the International Finance Corporation, the European Bank for Reconstruction and Development, and commercial banks for the preparation of cashmere in 2023.
In order to reduce the performance and foreign trade settlement risks of cashmere exporting companies, and to solve the collateral problem, to take export loans by pledging the balance of raw materials in export contracts and warehouses, to introduce new financial products and services, and to introduce new financial products and services. The Minister of Food, Agriculture, Light Industry and the Minister of Finance have been instructed to resolve the interest rate discount up to 13.0 percentage points by coordinating within the approved budget.
February 9, 2023
