The general session of the 2023 spring regular session of the Parliament started today, March 31, 2023.
B.Delgersaikhan, the Parliament Member, clarified about the mortgage loan and the economic situation from the Bank of Mongolia.
G.Enkhtaivan, Deputy Governor, Bank of Mongolia, reported, “The Central Bank has been involved in this issue for the past two years under the Covid law approved in 2020. In this framework, mortgage loans of MNT 1 trillion disbursed in 2021 and MNT 700 billion in 2022. Due to Covid Law terminated on December 31, 2022, the Central Bank stopped providing financing for the mortgage loan program. Currently, commercial banks are financing their repayments.
About 20% of mortgage loans are disbursed in rural areas. This year, the loan will be disbursed to citizens who have moved to the rural area or citizens who live there. The mortgage program will focus on rural areas. The Central Bank is working to transfer the mortgage loan program to the government by the second quarter of this year”.
The general session of the 2023 spring regular session of the Parliament started today, March 31, 2023.
B.Delgersaikhan, the Parliament Member, clarified about the mortgage loan and the economic situation from the Bank of Mongolia.
G.Enkhtaivan, Deputy Governor, Bank of Mongolia, reported, “The Central Bank has been involved in this issue for the past two years under the Covid law approved in 2020. In this framework, mortgage loans of MNT 1 trillion disbursed in 2021 and MNT 700 billion in 2022. Due to Covid Law terminated on December 31, 2022, the Central Bank stopped providing financing for the mortgage loan program. Currently, commercial banks are financing their repayments.
About 20% of mortgage loans are disbursed in rural areas. This year, the loan will be disbursed to citizens who have moved to the rural area or citizens who live there. The mortgage program will focus on rural areas. The Central Bank is working to transfer the mortgage loan program to the government by the second quarter of this year”.