Loans

Loan product through the "GOLD" program

Products designed to ensure the near and medium-term sustainable development of gold production in Mongolia, to introduce advanced techniques, technologies and management in gold mining and processing operations, to protect the environment, to improve the results of rehabilitation, to increase the returns from gold production to the economy, and to increase economic potential.

Terms and conditions

Conditions	MNT
Maximum loan amount	The amount of the loan does not exceed 18 percent of the Bank’s equity, and the financing does not exceed 30 percent of the amount of gold reserves expressed in MNT in the gold mining enterprise.
Loan interest /annual/	(Policy Interest+3%)
Term of loan	Up to 24 months
Service fee	1% of the loan amount or the maximum amount is 1,500,000 MNT
Increased interest	The increased interest rate is equal to 20% of the principal interest rate
Benefits of Changes to the Original Loan Term	0%
Period of exemption from principal	The Credit Committee will decide and may stay for a period determined by the Bank of Mongolia
Application Fee	30,000 MNT
Credit database reference fee	For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT

Requirements

Requirements for gold-long-term financing loan applicants: Funding should not exceed 30 percent of the amount of gold reserves expressed in MNT in the gold mining company’s licensed area;
The participating gold mining enterprise will use the loan for investment purposes; Participating gold mining enterprise must fully accept the terms of purchasing mined gold from the Bank of Mongolia during the financing period, and will pay in MNT according to the loan repayment schedule;
The debt of the reclassified loan in the name of the ownership of the company is unpaid;
The borrower must have enough cash flow to pay the loan and interest obligations and have qualified collateral.

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Terms and conditions

Requirements