DEVELOPMENT BANK MITIGATES ITS DEFICIT

Ulaanbaatar /MONTSAME/ The Development Bank of Mongolia (DBM) provided loans of MNT 225.1 billion in 2017, in which the MNT 196 billion was settled within the frames of new law approved on April 2017. 73 percent of the loans were allocated to export promoting projects. These includes projects that were implemented by private sectors, such as the ‘Gold-II National Program’, directly and indirectly funded projects on supporting cashmere industry, the projects on animal protein plant and on sheep wool bio-fertilizer plant. Furthermore, the DBM had MNT 137.69 billion deficit in September 2016, which is now reduced by MNT 90.75 billion as of September 2017. B.Tugsbilig