Forum on supporting SMEs held
A survey shows that over 80 percent of labour force in Mongolia makes up small and medium-sized enterprises.
Forum on supporting SMEs held. A survey shows that over 80 percent of labour force in Mongolia makes up small and medium enterprises. It is projected that supporting them would increase the number of middle-class people and contribute to strengthening the national economy. In the frameworks of the REACH Project by the USAID, a forum titled ‘Supporting funds for small and medium-sized enterprises through partnership’ was organized and experts said the aforementioned matters. This year’s forum directed at seeking sustainable and innovative methods to empower the SME for access to credit. The REACH Project was launched in June of 2016 with a key purpose to back funding for SMEs to intensify the Mongolian economic growth. In the scope of the project, loans of MNT 40 billion have been recommended to over 500 SMEs through intermediation. As a result, the SMEs earned MNT 800 million from sales and created 210 extra job places.
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