The Government decided to provide financial support to gold extractors, as a step to help the economy grow. The decision was taken some time ago, but there have been various hold-ups. Under the plan, the Government decided to provide MNT 256 billion credits to the gold extractors. But the financing is not solved completely, because of issues with the Development Bank.

On Friday, (2nd October), the Ministry of Mining, the Ministry of Finance, and the Bank of Mongolia signed to implement the “Finance of Gold” program. At present similar financing arrangements are already being operated by the various parties. Following the signing of contracts, the 9% loan rates with one-year term credits will be provided to the gold extractors via the commercial banks.