Ulaanbaatar
Soft Loans to Be Provided to Tourism Companies
Politics
Ulaanbaatar, May 21, 2025 /MONTSAME/. During its regular session on May 21, 2025, the Cabinet decided to provide soft loans with an interest rate of 6 percent and a term of up to six years to business owners in the tourism sector, based on sources from commercial banks.
The soft loans are expected to increase the tourism market capacity, improve service quality and standards, create new tourism products, promote Mongolian cultural heritage to the world, foster regional development, support year-round and cross-border tourism, increase the number of tourists, create new jobs in the tourism sector, and significantly raise the inflow of foreign currency.
A total of MNT 2 trillion will be provided as soft loans to tourism enterprises until 2028. As a result of issuing the soft loans, it is estimated that by 2030, the number of tourists arriving in Mongolia in a year will increase by 623 thousand, totaling two million tourists every year, more than 8,000 new jobs will be created, and a revenue worth of USD 1 billion will be generated.
