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Tserenkhand
Mrs. Tserenkhand, 51, lives with her husband and her son in the staff residence in Ulaanbaatar, the capital city of Mongolia. She has worked as a librarian in the university for 26 years. Her husband works in the mining company. They own an apartment with 3 rooms in one of the districts of the city. One of 3 rooms is rented for running a grocery store and the remaining 2 rooms are rented for the residents. Lately her apartment has been bad and having a lot of breaks in it. Also there has been a too much heat loss and emissions through the walls. She had some complaints from her renters. Therefore she decided to make repair, especially wall insulation to her apartment. She thinks that her business will run normally after the repair and renovation.

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 the 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 extremely toxic smoke from the cars is one of main reasons Mongolia has 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 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 she is taking will be used to cover the cost of the building and insulation materials for her apartment repair.

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 Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,333.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Tserenkhand to cover the cost of the building and insulation materials for her apartment repair.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 19, 2012
Listed
Jun 25, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 15, 2012