OyuTolgoi LLC to Grant USD 1 Million as SME Loan in Umnugobi
Oyutolgoi LLC will grant an amount equivalent to USD1 million as loan to small and medium enterprises of Umnugobi aimag through XacBank. It estimates 50,000 citizens will borrow up to MNT30 million at 1% monthly interest. Their businesses could also supply goods and services to Oyutolgoi LLC.
The cooperation between the company and the bank is expected to increase domestic production, especially of value added goods.