Loan product through the "Gold" program

Loan product through the "Gold" program  

Product designed to ensure the short and medium-term sustainable development of Mongolia's gold sector, introduce advanced techniques, technologies and management in gold mining and exploration, protect the environment, improve the efficiency of rehabilitation, increase the return of gold production to the economy.

 

TERMS MNT
Maximum amount  The amount of the loan shall not exceed 18% of the Bank's shareholders' equity and the financing shall not exceed 30% of the amount of gold reserves in MNTs in the licensed area owned by the gold mining company.
Interest rate /monthly/  1.00%
Interest rate /yearly/  12.00% (Policy Interest rate + 3.00%)
Period Up to 24 months
Service fee 1% on loan amount or a maximum MNT 1.5 million 
Increased interest Equivalent to 20% of interest rate 
Amendment fee  0%
Grace period The Credit Committee shall decide period which specified by the Bank of Mongolia
Application fee   10,000 MNT
Reference fee /Loan database/* Private - 1,000 MNT
Corporate - 1,000 MNT

*Effective from January 01, 2022.

Loan product through the "Gold" program

Product designed to ensure the short and medium-term sustainable development of Mongolia's gold sector, introduce advanced techniques, technologies and management in gold mining and exploration, protect the environment, improve the efficiency of rehabilitation, increase the return of gold production to the economy.

TERMS MNT        
Maximum amount  The amount of the loan shall not exceed 18% of the Bank's shareholders' equity and the obligations to be financed shall not exceed 30 percent of the amount in MNT.
Interest rate /monthly/  0.25% (If fails to comply with contractual obligations 1.46%)        
Interest rate /annual/  3.00% (If fails to comply with contractual obligations 17.50%)        
Period Up to 6 months        
Service fee 1% on loan amount or a maximum MNT 1.5 million         
Increased interest Equivalent to 20% of interest rate 
Amendment fee  0%
Grace period Up to 5 months
Application fee   10,000 MNT
Reference fee /Loan database/* Private - 1,000 MNT 
Corporate - 1,000 MNT

*Effective from January 01, 2022.