Financial support to Mongolia's cashmere producers - News.MN

Financial support to Mongolia’s cashmere producers

Financial support to Mongolia’s cashmere producers

Mongolian cashmere producers are planning to stockpile 5000 tonnes of raw material for production this year. They are expected to buy one kilogram of cashmere for MNT 100,000 – thus totaling MNT 456.1 billion.

So, earlier today (19 March), the Mongolian Government decided today  to grant a total of MNT 300 billion in loans with 12 percent interest to the cashmere producers from the Development Bank of Mongolia.

Local producers will spend MNT 366 billion for buying 3600 tonnes of cashmere and to sell 6400 tonnes to foreign customers. They will wash 20 percent of cashmere, save 40 percent and produce 2.4 million pieces of final products by remaining 40 percent.

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