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Miged D., who lives with his wife in Uvurkhangai province, located in the central part of Mongolia, was a driving teacher in the Defense Aide Association until he retired in 1996. Since that time, he has started a taxi service in the Arvaikheer Soum center and is now operating the business in the provincial center.

A good-natured and hardworking person, Miged has lived in his current home for 40 years and plans to continue operating his business in order to support the education of his two grandchildren. He is now requesting 1,000,000 tugrugs (approx. $690 USD) to purchase repair parts for his car.

Additional Information

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.

About Mongolia

  • $2,175
    Average annual income
  • 15
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,411.0
    Mongolia Tugriks (MNT) = $1 USD