Улаанбаатар
General rule on mortgage loan and financing approved
PoliticsUlaanbaatar /MONTSAME/ At its irregular meeting on Friday, the cabinet discussed some measures to be taken in connection with an approval of the law on reserve and fund of future pensions, and then approved a general rule of mortgage loan and financing.
In conjunction with the approval of the law on future pensions, obligations were given to the Finance Minister and the Minister of Population Development and Social Welfare to formulate a bill on the 2016 budget for fund of the future pension, to submit the bill to parliament and to establish a contract with the Bank of Mongolia on granting mortgage loans to people.
The cabinet considered as necessity to reduce interests of mortgage loans for people to purchase apartments in remote districts, in all aimags and regions of the re-planning areas.
