Ulaanbaatar /MONTSAME/. In preparation for “The Years to Visit Mongolia”, the government will issue MNT
55 billion in loans to companies in the tourism industry, subsidizing an annual
interest rate of 7 percent.

 

The MNT 55 billion loans will be financed through the sources of commercial banks with a term of 2 years, and the government will
subsidize up to 7% of the loan interest rate. Specifically, If the annual interest rate of commercial
bank loans were 15-16 percent, the government would cover 7 percent of the interest rate.

 

The Ministry of
Environment and Tourism believes that it would be a significant impetus for the rapid development of tourism industry. In this
regard, the Ministry of Finance, the Bank of Mongolia, and the Loan Guarantee
Fund will closely cooperate with commercial
banks.