Programme approved on stabilizing land farming

Economy | Agriculture
2016-01-12 15:20:08

Ulaanbaatar /MONTSAME/ At its meeting on Monday, the cabinet approved a short-term programme on stabilizing the land farming with key objectives to provide consumers with home-grown wheat, potatoes and vegetables, to improve the quality of the products, and to save soil fertility.

The government authorized the Board of the Development Bank of Mongolia (DBM) to give two-year term loans to land farming companies and individuals after resolving a financing of 100 billion Togrog. This year, some 1,200 entities and people are expected to receive 386.3 thousand tons of harvest after planting grain on 322.9 thousand hectares, of which wheat on 301.5 thousand hectares. Due to droughts last year, farming companies lost much harvest, therefore these companies are in trouble to carry out their business for this year. So, the DBM loans will be given to them on a repayment term.

The loans are projected to be used for the spring sowing, preparing ploughs, providing the harvesting works with fuels, supplying pesticides, chemicals for soil saving, improving soil fertility and technical repairs.