USD 9 million in bonds sold so far for economic development

Deputy Minister for Food, Agriculture and Light Industry Kh.Zoljargal tells our correspondent that MNT 108 billion in bonds have been sold so far as part of a MNT 300 billion bond issue for economic development.  

The bond sale began on August 9. The bonds are being sold on the Mongolian Stock Exchange every Tuesday.

The bond issue was approved by Parliament last July. Of the MNT 300 billion to be raised, MNT 150 billion will go toward developing small-to-medium-sized business enterprises, MNT 100 billion will help support the producers of wool and cashmere products, and MNT 50 billion will go to herders who sell camel and sheep wool to domestic factories. 

Kh.Zoljargal says the money that goes to businesses will be in the form of loans through commercial banks which must be repai