Myagmarsuren is a 32-year-old, single man who lives alone in his own wooden house in Ulaanbaatar, the capital of Mongolia. His home is located in a boundary area of the city with no running water, minimal roads and spotty electricity. Since 2009, he has been working as a signal-security engineer in a private company. As a young single man, he works hard and because of his workload he usually goes to work in the early morning and comes home late at night. In summertime, he directly goes to bed/sleep if he comes in late, but in winter he needs to set fire to warm the house. Setting fire takes time. He needs to prepare firewood and sometimes he has a day without firewood due to a full schedule on the job. So Myagmarsuren is planning to change his coal-burning furnace with an electrical heating one in order to cut the usage of coal that generates harmful chemicals to the atmosphere and to improve his living condition.
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.