The Mongolian government has started a MNT 300 billion bond issue to support small businesses and the nation’s wool and cashmere industries. Last week, MNT 26.7 billion of the bonds were sold on the Mongolian stock exchange. Under the terms of the issue, every soum (roughly equivalent to a U.S. county) is to receive at least MNT 50 million from the bond issue. The amount will be determined according to each soum’s population. The soums will then make loans available to local entrepreneurs and small businesses at a rate of three percent. The Government says it has already spent MNT 85.3 supporting small businesses, resulting in the building of 1,254 factories, and the expansion of 2,520 more.