Development Bank issuing loans not less than MNT 20 billion

2019-09-17 15:56:16

Ulaanbaatar /MONTSAME/. Open Door Days event to present the current activities of the government of Mongolia to the public is being held on 16-27 September at the central square. On the first day of the event, the Development Bank of Mongolia, responsible for building sources of capital to finance large-scale projects and programs for Mongolia’s development, organized its presentation to give update on its operations, projects and programs presently underway and loans and financing activities. On this day, the information booth of the Development Bank at the Sukhbaatar Square provided information and services related to loan and financing to more than 150 visitors. 

The bank CEO H.Amartuvshin informed that the Development Bank is currently working on upcoming loan programs including the government’s wool and cashmere program for 2020 to be announced within this month and export support program. He denied the information that the Development Bank has temporarily stopped issuing loans. “We are still issuing loans, currently having a loan package of MNT2.7 trillion. The minimum loan amount issued from the Development Bank is MNT 20 billion and lower than that are being issued through commercial banks within the concerned program. 

The Development Bank of Mongolia, a policy bank directed at giving support in achieving sustainable economic growth of Mongolia and introducing financial solutions to promote value-added production, has been continuously financing infrastructural, energy, agricultural and mining projects and programs that play significant roles in the national development. In addition to financing non-export projects that satisfy the corresponding requirements, the Development Bank is willing to fund projects and programs that would make immediate impacts on the livelihood of the Mongolian population, such as oil refinery building and air and soil pollution reduction. 

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