GOVERNMENT GRANTS SME LOAN GUARANTEES OF 11 BILLION

Ulaanbaatar /MONTSAME/ The Loan Guarantee Fund, together with the United Nations and the Labor Ministry held Friday a meeting themed ‘Loan Guarantee: Function and Involvement for Increased Financial Opportunities for SME’. Some 120 representatives of international organizations, governmental and non-governmental organizations, financial bodies and banks took part in the meeting. At the meeting, an executive director of the Loan Guarantee Fund Sh.Altankhuyag informed the gathered that the Government has granted loan guarantees of 11 billion togrog for lending of 27 billion togrog for 169 borrowers consisting of entities and citizens. The Government has been issuing pledges for loans of SMEs for the last one year in support of their business initiations and operations. Today, there are some 44 thousand SMEs operating in Mongolia, composing overwhelming 82% of all business entities.