30 billion is distributed to develop enterprises

Jul 23 • Agriculture, Business • 547 Views • No Comments on 30 billion is distributed to develop enterprises

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D.Zoljargal, Deputy Minister for Food, Agriculture and Light industry held open talks with the media yesterday. According to the protocol made in 8th of March 2009, 30 billion MNT is distributed for developing small and medium enterprises in the country. This is a sharp increase as the distributions were annual 1 billion MNT for the previous three years. The government had provided 2.6 billion MNT of 483 domestic projects and 1.7 billion MNT of 119 projects in the capital during the year 2006-2008.

500 million MNT is distributed in every Province to support small and medium enterprises. Additionally, this project is cooperated with the commercial banks as these loans are returnable. There are short and long term loans. Interest rates are 1% for the short term loans and 0.8% per month for the long term loans. Khas, Zoos, Mongol Post and Kapitron banks are providing short term loans and Golomt, Trade Development, Ulaanbaatar and Kapitron banks are providing long term loans to support small and medium enterprises.

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