Ulaanbaatar
Loans worth MNT330 billion issued within Comprehensive plan for Health protection and Economic recovery
Economy
Ulaanbaatar/MONTSAME/. At the regular meeting of the Cabinet
on March 24, Minister of Finance B.Javkhlan presented a report on the progress
of the ‘MNT 10 trillion Comprehensive Plan for Health Protection and Economic
Recovery’.
As of March 23, a total of MNT330.2 billion were disbursed
for the mortgage, repo financing of the central bank, and loans to support employment.
Also, MNT66 billion was issued for the financing of the Wastewater Treatment
Plant Project of Ulaanbaatar.
For the loan to support employment, within 11 working days
since the contracts were signed banks received applications from 25.9 thousand
borrowers to get loans worth MNT3.8 trillion in total and issued loans worth
MNT41.8 billion to 615 borrowers. It means that the loans are being issued
within a shorter period, compared to the average term of spending 30 days on
reviewing and resolving business loan applications.
The loans issued by the banks for job support amounted to
MNT6.1 billion by March 17. As of March 22, it had risen to MNT41.8 billion.
For long-term repo financing loans, loan applications for MNT391.5
billion were received, of which MNT166.9 billion worth of loans were issued to1,283 individuals and businesses.
As of March 22, applications for mortgage loans worth MNT361.5
billion were received, of which MNT121.4 billion of mortgage loans were
issued to 1,603 individuals.
The Ministry of Finance sets up a ‘Public Oversight Board’ regarding
the loan issuance. It also provides the public with a weekly review on the loan
issuance, and works to improve coordination between stakeholders and intensify their
activities.
