Tseveen-Ochir, 35, is a taxi driver and he has been running his business for three years. His wife works as a cook in a cafeteria in Darkhan, the second largest city in Mongolia. He lives with his wife and three sons in Ulaanbaatar, the capital city of Mongolia. Their house is located in the Ger district, an area of the city with no running water, minimal roads, and spotty electricity. In winter, most Mongolian households use coal-fired stoves to stay warm at home because using wood or chemical fuels is not accepted in Mongolia due to the lack of wood sources. Making the wall insulation is a good way to reduce coal usage in Mongolia. As we know it worsens air pollution and people’s health. Thus Tseveen-Ochir decided to buy some building materials, such as foam and cement, to make the wall insulation for his family's house.
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.