SME loans show good results
Reports from aimags indicate the success of the Government plan to encourage SMEs through grant of bank loans on easy terms.
MNT798.3 million was given to 54 projects in Bayankhongor aimag. These include two dairy farms with 54 cows, a linoleum printing workshop, tourist camps, a building material factory, a stone breaking unit, and seven bakeries for bread and small cakes. All this means more jobs have been created, and more is being produced. Expansion of the economy depends on better transportation and storage facilities. Some 50 entities have taken altogether MNT650 million in soft loans in 2010 to provide these.
The SME loan scheme has not been so successful in Khuvsgul aimag because Saving Bank failed to issue loans. It was decided after six meetings that 37 of the 311 projects submitted would receive MNT374 million from Saving Bank, and 9 others MNT81.5 million from State Bank. Savings Bank in the province had no money and is yet to receive funds from their head office in Ulaanbaatar. One person in Galt soum is accused of building his house with MNT10 million he was lent for a farm. Another person has, however, begun making felt with a loan of MNT15 million.
MNT798.3 million was given to 54 projects in Bayankhongor aimag. These include two dairy farms with 54 cows, a linoleum printing workshop, tourist camps, a building material factory, a stone breaking unit, and seven bakeries for bread and small cakes. All this means more jobs have been created, and more is being produced. Expansion of the economy depends on better transportation and storage facilities. Some 50 entities have taken altogether MNT650 million in soft loans in 2010 to provide these.
The SME loan scheme has not been so successful in Khuvsgul aimag because Saving Bank failed to issue loans. It was decided after six meetings that 37 of the 311 projects submitted would receive MNT374 million from Saving Bank, and 9 others MNT81.5 million from State Bank. Savings Bank in the province had no money and is yet to receive funds from their head office in Ulaanbaatar. One person in Galt soum is accused of building his house with MNT10 million he was lent for a farm. Another person has, however, begun making felt with a loan of MNT15 million.
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