EMPLOYMENT SUPPORT LOAN CONTINUE TO BE ISSUED

The Ministry of Finance has announced that it will continue to provide soft loans to support employment this year in the framework of the ‘MNT 10 trillion Comprehensive Plan for Health Protection and Economic Recovery’.

A total of MNT 4.3 trillion loan were issued last year. Fifty percent of the total loan was provided to support and create more jobs, which is the main target activity. The Ministry of Finance is studying what sector should be  prioritized. Loans up to MNT 50 million will be issued to individuals and up to MNT 500 million to businesses. 

The employment support loan with an annual interest rate of 3 percent will continue to be provided from March 1.

Last year, 62 percent of the total loan were issued to businesses in the capital city while 37 percent in aimags and rural areas. Orkhon, Darkhan-Uul and Selenge aimags lead with its amount of loans issued.

Source: https://www.montsame.mn/en/read/287341