A loan of $3,025 helped to buy materials to improve his home.


Byambadorj's story

Mr. Byambadorj is 25 years old and lives with his wife in an old house which is in need of repair. He works as a vendor in a local store, and is requesting a loan to repair his home, which is located in the ger (or traditional Mongolian yurt) district of Ulaanbaatar, the capital of Mongolia. He will use his loan to buy the materials he needs to replace his home's heater, old wooden floor and windows, and install insulation to reduce heat loss. In the winter, he uses a water-heated furnace to stay warm, and it costs too much and wastes a lot of water. By replacing it, he will lower his bills and improve the environment. Although Mongolia has the lowest population density in the world, it is one of the globe's most polluted countries. This is due to the long, cold winters where temperatures frequently go below -40C (-40F) even in the cities, and it frequently snows. Both homes and nomadic tents burn a lot of fuel and emit huge amounts of pollution every night from people just trying to stay warm. Extremely toxic smoke from cars is another cause of air pollution. In response to this, Credit Mongol offers Green Loans to its clients to make home improvements that reduce heat loss, improve heating systems and run cars on the natural gas. We believe that together we can decrease pollution and the harmful effects it has on the environment and on Mongolians' health.



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