PM urges to promote traditional farming

Ulaanbaatar /MONTSAME/ Prime Minister Ch.Saikhanbileg invited Minister of Food and Agriculture R.Burmaa and Minister of Finance B.Bolor to the weekly “Hour of solutions” meeting Wednesday. They discussed approaches of supporting economic prosperity by focusing on other sectors than mining. Economy should not decline depending on only one sector, the PM said. The two alternative key economic sectors are construction and agriculture, especially animal farming, he added. He suggested supporting livestock herders with same method as the government is promoting construction sector with mortgage loans. Same methods are applying to animal farming sphere in a form of “Makh” (Meat) program, aimed to increase meat exports, and one-time action on activating the exports of raw hides. Khan Bank has over 240 billion MNT of outstanding loan in the names of herders. These loans, allowed for herders for their family use and properties purchase, have annual interest of 30 percent, the Premier noted said and assigned the Minister Bolor to cooperate with the Central and commercial banks in studying possibilities of reducing the interest to single-digit. R.Burmaa was told to ensure a coherence between sectoral policies on improving lives of herder families, their performances, on creating national brands, satisfying international standards and making technological renovations.