Loans worth MNT 525 billion issued for job promotionEconomy
Ulaanbaatar/MONTSAME/. At the regular meeting, the Cabinet members heard a report on the implementation process of the MNT10 trillion comprehensive plan for health protection and economic recovery.
Within a purpose to support employment, up to MNT 2 trillion loan with annual 3 percent interest and 3-year term is being issued to small and medium enterprises and individuals. As of April 12, the loan issuance is running at 26.3 percent and MNT 525.6 billion of loans were issued to 7,356 borrowers out of receiving 34.2 thousand loan requests of MNT 4,292.9 billion in total.
Of the 7,356 borrowers, 1,146 are entities and 6,210 are individuals. 12,049 loan requests for the remaining MNT 1,856.9 billion are under study while 7,882 loan requests have been denied. The average amount of loans - for individuals was MNT 37.4 million and entities - MNT 256.1 million.
Within the frame of long-term repo financing by the Bank of Mongolia, 1,557 borrowers have received financing of MNT 246 billion in total while 2,982 borrowers have received MNT 222.1 billion in the mortgage.