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Mr. Bayanmunkh, 37, has been running a taxi service for last two years. He also has an auto body repair business in his backyard. He lives with his wife and two daughters in a ger, a traditional Mongolian nomadic yurt in the ger district of Ulaanbaatar, the capital of Mongolia.

The ger in winter is cold. His two daughters always get sick from the cold in their home. To improve the situation, Mr. Bayanmunkh has started building a house for his family. He is planning to install an electric heating panel in his new home. As he says, “it is very useful and healthy to the environment and health of the people." Moreover, it is very economical. He can cut the cost of his coal fuel by having electric heating.

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 winter, many parts of the country are extremely cold with snow storms. Both homes and nomadic tents burn a lot of fuel and emit huge amounts of pollution every night by families just trying to stay warm. Also, the toxic smoke from the cars is one of main causes of Mongolian hard air pollution. In response to this situation, Credit Mongol offers Green Loans to their clients to make home improvements that reduce heat loss and improve heating systems, and to buy cars that run on natural gas. The loan Mr. Bayanmunkh is taking will cover the cost of a new electric heating panel for his new family 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
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,335.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Bayanmunkh to buy a new electric heating panel for his new family house.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 2, 2012
Aug 9, 2012
Currency Exchange Loss:
Sep 17, 2014