Mrs. Ariunjargal is 38 years old and lives with her children in a ger, a traditional Mongolian yurt, in Darkhan, which is the second largest city in Mongolia. Her children are 16 and 8 years old and study at a local secondary school. During the last five years her husband has been working as a contract worker in Korea, and every month he sends some money to the family. When her husband left for Korea, their children were 11 and 3. Since then, Ariunjargal hasn't worked. Ariunjargal has been told that her husband’s contract will expire next year, and her family is impatiently waiting for the moment. Before that time, Ariunjargal had a plan to build a new house to surprise her husband. She will use the money that the husband has sent. Her house building process is going well, with 80% execution, thanks to all her relatives. There is only the plaster, or insulation work, on both sides of the walls, installation of some double-glazed windows, and a low-pressure furnace left to install. The loan Ariunjargal is taking out will be used to complete her new house. By doing this, her family will be provided with a comfortable and spacious house to live in.
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.