FOUNDATION FOR SME REPORTS AT “HOURS OF GREAT CONSTRUCTION” MEETING

Ulaanbaatar /MONTSAME/ The government is about to give financing of 19.5 billion Togrog to 37 enterprises, said B.Battuvshin, a director of the Foundation for Developing Small- and Middle-sized Enterprisers (FDSME) at the “Hours of great construction” weekly meeting on Monday. This decision has been made after placing 100 billion togrog in the foundation in order to finance export-oriented and import-substitution projects that request loans of below 2 billion togrog. These projects have been chosen, in their turn, from 888 selected by the government. About 600 projects have asked the government to get financing of up to two billion Togrog, he said, adding these projects' authors must promptly send applications to relevant commercial banks. It is also possible to render a support to those enterprises who cannot receive the loans due to the lack of pledge capital, said Ch.Tsaschikher, a head of the FDSME’s financial section.