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Ankhbayar
Mr. Ankhbayar is 30 years old and a military man. He lives with his wife and 2 children in an apartment he recently purchased through a loan from a bank. Last August he bought his apartment and made some repairs to it. But it still has some problems such as heat loss and emissions. He is also planning to repair the windows, floor and walls. Last winter was very cold for him and his family without good insulation.

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 winter, many parts of the country become 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. In response to this, Credit Mongol offers Green Loans to its clients to make home improvements that reduce heat loss and improve heating systems. 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 be dedicated to buying building materials to install wall insulation in his home.

Additional Information

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 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.

About Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,325.0
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,525 helped Ankhbayar to buy building materials to install wall insulation in his home.
74% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 12, 2012
Listed
Jun 24, 2012
Currency Exchange Loss:
Possible