Ministry of Industry conducted monitoring during March-May of 2015 of the entities that were financed with the soft loans.
According to the briefing session, the monitoring have covered the entities total of 1479 projects or 88 percent of 1680 projects in total, which have received the soft loans financed by the Government Bonds, Chinggis Bonds and SME Development Fund during 2012-2014 which totals to MNT 419.7 billion. The implementation is at 95.9 percent currently.
83.5 percent of the total loans were disbursed at increasing the current assets, purchase of equipment leading to increase of the prodcution capacity, jobs, introduction of the new products into market and expading the market share, which in turn resulted in sales revenue increase by 20-30 percent.
At SMEs 5529 jobs could be kept and 5871 more jobs were created.
While 61 projects with investments totalling to MNT 23.3 billion were having below the average performance.
Ministry of Industry will revise the loans which were not used properly:
- Loans for 22 projects to be changed into commercial loans
- Revise 20 project whether to change to commercial loans
- 19 projects to conduct repeated monitoring.
Soft loans were issued:
- During 2012-2014 to support SMEs from the SME Development Fund totalling to MNT 241.4 billion to 1572 projects
- During 2013-2014 to support leather, cashmere and textile industry from Government and Chinggis Bonds totalling to MNT 178.2 billion to 108 projects
- In 2013 to fund the production of student uniforms totalling to MNT 23 billion
- During 2013-2014 total of 13,198 individuals and entities received MNT 75.9 billion soft loans from the Soum Development Fund.
In last three years total of MNT 518.6 billion loans were issued to 14,897 projects.
Ministry of Industry conducted monitoring during March-May of 2015 of the entities that were financed with the soft loans.
According to the briefing session, the monitoring have covered the entities total of 1479 projects or 88 percent of 1680 projects in total, which have received the soft loans financed by the Government Bonds, Chinggis Bonds and SME Development Fund during 2012-2014 which totals to MNT 419.7 billion. The implementation is at 95.9 percent currently.
83.5 percent of the total loans were disbursed at increasing the current assets, purchase of equipment leading to increase of the prodcution capacity, jobs, introduction of the new products into market and expading the market share, which in turn resulted in sales revenue increase by 20-30 percent.
At SMEs 5529 jobs could be kept and 5871 more jobs were created.
While 61 projects with investments totalling to MNT 23.3 billion were having below the average performance.
Ministry of Industry will revise the loans which were not used properly:
- Loans for 22 projects to be changed into commercial loans
- Revise 20 project whether to change to commercial loans
- 19 projects to conduct repeated monitoring.
Soft loans were issued:
- During 2012-2014 to support SMEs from the SME Development Fund totalling to MNT 241.4 billion to 1572 projects
- During 2013-2014 to support leather, cashmere and textile industry from Government and Chinggis Bonds totalling to MNT 178.2 billion to 108 projects
- In 2013 to fund the production of student uniforms totalling to MNT 23 billion
- During 2013-2014 total of 13,198 individuals and entities received MNT 75.9 billion soft loans from the Soum Development Fund.
In last three years total of MNT 518.6 billion loans were issued to 14,897 projects.