Development Bank funding creates over 20 thousand jobsEconomy
Ulaanbaatar /MONTSAME/ The Development Bank of Mongolia (DBM) finances small and medium sized enterprises through commercial banks aside from providing direct loans to major projects and programs.
As of now, the DBM has provided funding to 1700 entities, financing 15 programs through 11 commercial banks. Whereas, direct loans has been given to 74 projects and programs. Around 5500 jobs have been created as a result of the direct loans given by DBM with expectation of some 4200 more work places further. Moreover, 17 thousand jobs have been created as a result of projects funded through commercial banks.