Ulaanbaatar
Loan to Be Provided for Model Cooperative, Fruit Farming, and Bee Cluster Projects
Society
Ulaanbaatar, June 27, 2024 /MONTSAME/. Financing will be provided to 22 projects for the development of model cooperatives, fruit and berry farming, and bee farming clusters.
A Project Selection Committee decided to grant loans from the Small and Medium Enterprises Development Fund to 10 projects for establishing model cooperatives, 10 projects for fruit and berry farming, and 2 projects for bee farming clusters. Specifically, MNT 2,258,390,000 will be allocated for 10 model cooperative projects, MNT 1,098,780,000 to 10 fruit and berry farming projects, and MNT 191,635,000 to two bee cluster projects.
The loan fund of MNT 7.3 billion was earmarked by the 2024 Government Resolution of the Minister of Food, Agriculture and Light Industry of Mongolia according to the 2020 Resolution of the Government of Mongolia on “Regulation on Granting Concessional Loans from the Small and Medium Enterprises Development Fund, Selection, Lending, Repayment, and Monitoring.”
This includes MNT 4.2 billion for model cooperatives, MNT 2.8 billion for fruit farming, and MNT 270 million for bee cluster
The Ministry of Food, Agriculture, and Light Industry of Mongolia reports that the project selection was made in four stages, receiving loan requests for 26 model cooperative projects worth MNT 4.9 billion, 44 fruit farming projects worth MNT 5.4 billion, and 5 bee cluster projects worth MNT 652, 8 million.
