Ulaanbaatar
Odontuya Saldan: The Interest Rate on Green Loans Should Be Reduced
Society
Ulaanbaatar, May 5, 2025 /MONTSAME/. The "Warm Home" Private Housing Fair, organized by the Ministry of Environment and Climate Change of Mongolia, is taking place at Sukhbaatar Square with the participation of over 80 Mongolian and international construction companies. The Fair introduces home insulation technologies and environmentally friendly products and services.
Minister of Environment and Climate Change of Mongolia Odontoya Saldan said, "Companies are actively introducing the latest technologies, and public interest in home insulation is increasing. However, many citizens and company representatives have raised concerns about the high interest rates on bank loans. In other countries, an annual interest rate of 13 percent is classified as a commercial loan, not a green loan. Such high rates hinder the implementation of effective measures to reduce air pollution. Lowering interest rates on green loans should be a top priority for the Government, as with low interest rates, companies will introduce the latest technologies and find customers without relying on Government support.”
"The National Committee for Air Pollution Reduction has proposed that enterprises discontinue the use of raw coal, and many businesses are in support of this initiative. Public organizations, including schools and kindergartens in the Bayangol district, have already moved away from raw coal. This policy is now being expanded to include public organizations in Chingeltei district," noted Minister Odontuya.
The "Warm Home" fair is scheduled to run until May 7, 2025.
