MEASURES TO BE TAKEN FOR CREDIT GUARANTEE FUND

Ulaanbaatar, Mongolia /MONTSAME/ The cabinet meeting on Saturday approved a resolution on some measures to be taken for the credit guarantee fund. The resolution's main objective is to place in this fund capitals of projects that are being implemented by the governments of other countries and international organizations for supporting the small- and middle-sized productions and employment, for increasing jobs, and for reducing the poverty rate. An order has been given to Ch.Saikhanbileg, the head of the Cabinet Secretariat of Government, to control the resolution's implementation. A recently adopted law on the credit guarantee fund has designed a legal basis to augment a financial opportunity for the small- and middle-sized businessmen, to back the employment, and to ensure peope's sustainable income source. A legal environment for rendering the credit guarantee sewrvice has been created by this as well. In frames of realization of the law, it is required to launch the fund's action and to spend the money for specific purposes because the cabinet has already reflected MNT five billion in the 2012 budget law for establishing the fund. B.Khuder