Jobs support loans issued to 23,936 individuals and businesses

2021-08-26 11:36:40

Ulaanbaatar /MONTSAME/ As part of the ‘MNT 10 trillion Comprehensive Plan for Health Protection and Economic Recovery’, jobs support loans totaling MNT 1,811.9 billion have been given to 23,936 borrowers – 5,205 businesses and 18,731 borrowers – as of August 23.

The average amount of loans borrowed by individuals was 33.4 million, while it was MNT 227.8 million with businesses. MNT 53,335.2 million loans of 193 borrowers are guaranteed by the Credit Guarantee Fund. 

The Bank of Mongolia has provided financing to banks under repurchase agreements with maturities of up to two years and the banks are issuing new and additional loans at a 10.5 percent interest rate.

As of August 23, MNT 660.4 billion has been loaned to 2,905 borrowers – 1,600 businesses and 1,305 individuals and the average amount of loans borrowed by individuals was MNT 118.2 million, while it was MNT 316.2 million with businesses.

Mortgage loans totaling MNT 656.2 billion were issued to 8,750 borrowers and MNT 321.1 billion agriculture support loans to 20,036 borrowers.