Ulaanbaatar
Construction Minister receives IMF Resident Representative for Mongolia
Society
Ulaanbaatar /MONTSAME/ On March 21, Minister of Construction and Urban Development Kh.Badelkhan met with Neil Saker, the International Monetary Fund's (IMF) Resident Representative for Mongolia, exchanging views on the housing mortgage loan disbursement, funding, and the actions being taken in this regard.
Mentioning that the Government of Mongolia is taking policy actions even though the mortgage loan funding decreased, Minister Kh.Badelkhan emphasized that the legal environment for doubling the mortgage loan funding source was created with the approval of procedure to render housing mortgage loan on soft terms.
In turn, Mr. Neil Saker noted the importance of continuing the mortgage loan program constantly but through principles of private sector dominance, and expressed his hope that the Government of Mongolia will pay attention to the World Bank’s study on continuing the mortgage loan for a long time.
