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Zolbayar
Zolbayar, 22, works as a janitor in a hotel in Ulaanbaatar, the capital city of Mongolia. He has been working for 9 months. His salary is not so good and it does not meet with his monthly necessities often. He lives with his wife, a student, and his daughter in his old house which is in the ger district, an area of city with no running water, minimal roads and spotty electricity. Currently, his job is the main income source for his family.

Zolbayar's house has too much heat loss and emissions in winter. This is caused by old, bad walls and some other parts of his house and it costs much in coal fuel to warm his home. His daughter, 2, always has flu in the winter time. So, Zolbayar planned to repair his house. To start, he is planning to add wall insulation with bricks and cement. He thinks this will keep his home warm and there will be no more emissions after the 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 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 reason for Mongolia's 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 Zolbayar is taking will be used to buy and install insulation for his house.

Additional Information

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.

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

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,334.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,875 helped Zolbayar buy and install insulation for his house.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 8, 2012
Listed
Jun 27, 2012
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014