Economic diversification encouraged

Odonchimeg 2016-03-09 08:03

Economy

Economic diversification is encouraged.

Economic diversification is encouraged. Credit Guarantee Fund of Mongolia and ADB signed a project on economic diversification and employment to support credit guarantee system. The project will be targeted at small businesses outside the mining sector which accounts for 25% of the gross national product. The project aims to make more long-term financing available for small and medium sized enterprises by strengthening the Credit Guarantee Fund of Mongolia as well as external factors like limited awareness of the facility among SMEs.