Mr. Ochirbat, 26, works in the steel factory which is in Darkhan, the second largest city. He has been doing his job for 2 years, and is one of the skillful workers. He wanted to buy a car which runs on natural gas. According his plan, he will run a taxi business outside his work. He believes it will increase his family income notably.
Although Mongolia has the lowest population density in the world, it is one of the most polluted countries in the world. This is due to the long and cold winters where temperatures frequently go below -40C even in the cities. Also, in summer, many parts of the country are extremely cold and are known to have snow storms. Both homes and nomadic tents burn a lot of fuel and emit huge amounts of pollution every night from families just trying to stay warm. As well, the smoky and extremely toxic smoke from the cars is one of main reasons for Mongolian hard air pollution. In response to this, Credit Mongol offers Green Loans to their clients to make home improvements that reduce heat loss, improve heating systems and buy cars on the natural gas. We believe that together we can decrease pollution and the harmful effects it has on the environment and Mongolians' health. The loan Ochirbat is taking will be used to cover the cost of his buying a car which uses natural gas.
More information about this loan
This loan is part of Credit Mongol's green loan program, which helps clients to purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.
About Credit Mongol
Credit Mongol is the largest non-banking financial institution (NBFI) in Mongolia. Its mission is to contribute to the prosperity of Mongolians by providing high-quality, affordable and varied financial services to micro-entrepreneurs and small-to-medium-sized businesses. It prioritizes serving remote, rural populations that have typically lacked access to credit and other financial services. Uniquely, it offers solar panel loans to nomadic herders, most of whom live without electricity.