MNT 300 million to be invested from state budget in greenhouse farmingEconomy | Agriculture
Ulaanbaatar /MONTSAME/. The Ministry of Food, Agriculture and Light Industry has reported that MNT 300 million of investment will be made from the state budget to support greenhouse farming in the spring season.
The budget investment will finance building 83 complex greenhouse structures and provide 110 kg of four types of greenhouse crops to family farm businesses and enterprises under soft term loans. This will allow increasing greenhouse farming by 75 ha of land while improving the vegetable production and supply in residential areas.
Moreover, a project to develop a value-added chain in vegetable production has been launched with EUR 10.2 million funding from the Republic of Poland. Within the framework of the project, construction of potato and vegetable storage facility with 8,500 ton-capacity and procurement of over 600 types of machinery and equipment for farming are planned.
Another project underway in the farming industry is an agricultural production support project funded with a soft loan from China. Farming irrigation system equipment will be provided to crop farmers with the soft loan with a 50 percent discount, 6-year term, and 6-percent annual interest rate. As a result, the irrigated farmland area is expected to be increased by 1,500 ha, according to the Ministry.