The Government has approved the short- term “Farming Stabilization Program”, the purpose of which is to help ensure that Mongolia becomes self-sufficient in the production of wheat, potatos and other crops. The Board of the Directors of the Development Bank has, accordingly, approved the request to provide the required MNT 100 billion to the farmers. This will be a two-year loan.
Mongolia’s 1200 farming entitities are planning to harvest 386,300 tons of wheat from a total of 301,500 hectares. The Government tasked the Development Bank to facilitate the financial support for the farmers under the “Farming Stabilization Program”, so that the production of the crops should go ahead smoothly and without any obstacles.
Source: Media Bureau at the Governmental Administration