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Mr. Munkhjargal, 55 years old, lives alone in Kherlen, an eastern town of Mongolia. He has been growing and selling vegetables to local people for many years. Recently the well he used for irrigation dried up and this incident caused his seed planting schedule to be delayed. He is requesting a loan of 1,500,000 MNT to cover the cost of digging a well on his land. After digging this well and connecting up the irrigation system, he will be able to plant his seeds immediately. He usually grows cabbage, potatoes and carrots. In his town, he is well known for his hardworking and stern character.

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 Mongolia

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,050 helped Munkhjargal to cover the cost of digging a well.
86% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
May 28, 2013
May 29, 2013
Currency Exchange Loss:
Jul 21, 2015