Batzaya is 26 years old, and lives with his wife and a 4-year-old girl in his house in Darkhan, the second largest city of Mongolia. His house is located in the ger district, an area of city with no running water, minimal roads and spotty electricity. His wife has been working as a distributor in a merchandising company since 2011. Batzaya works as a driver for a local taxi service company which transports people from Darkhan to Ulaanbaatar, the capital. He has been leasing the car from his company. Every day, he has to pay $20 and drives 600 km. The car he is using has too big an engine so it uses 14 liters of gasoline/petrol per 100 kilometers. The study showed that an average car running on gasoline emits 155g of carbon dioxide per km to the atmosphere. The gasoline contains ingredients like zinc and lead that are harmful to people’s health and the environment. Economically, riding a car with a big engine in Mongolia is not rational, because Mongolia imports fuel products from its neighbors and its price always rises. So, Batzaya is asking 5,000,000 MNT to buy a car that runs on natural gas, which emits fewer harmful chemicals into the atmosphere than gasoline. On one hand, he will contribute his effort to save the environment, and on the other hand he will earn money for his family.
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.