Mr. Ochirkhuu's monthly salary does not usually cover his family's necessities. So he wants to restart his old business - the taxi business - again. He will run it beyond his work in the nighttime. So, he now needs money to cover the cost of purchasing a car. It will be a car with a natural gas engine which is natural-oriented and less harmful to the environment.
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 (-40F) even in the cities. Also, in summer, many parts of the country are extremely cold and are known to have snowstorms. 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 Mongolia's 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 that run on natural gas. We believe that together we can decrease pollution and the harmful effects it has on the environment and Mongolians' health. The loan he is taking will used to cover the cost of 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 gain access to electricity through solar panel kits, as well as other products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.
About Credit MongolCredit 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.
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