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Mr.Mereke, 31 years old, lives with his wife and two children in their house in Bayan-Ulgii province in Mongolia. His wife Gulsheker works part-time at a local school, while his son Ahjol is a primary school student and his daughter Ahbota goes to kindergarten.

A hardworking, diligent and honest person, Mereke has been providing a taxi service for four years now. His car has broken down and he is now requesting a loan of 1'500'000MNT to purchase an eco-friendly electric and gas car to run his taxi service business.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Mereke to purchase an eco-friendly electric and gas car to run his taxi service business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 6, 2012
Nov 25, 2012
Currency Exchange Loss:
Aug 17, 2014