Within the scope of the project which has been launched in 2017 funded with USD 25 million aid from the World Bank, loan will be granted to youth for running small businesses and provide equipment loan to graduates from occupational training centers.

Moreover, the actions will be taken to increase efficiency of state employment service, to give job finding assistance to low-income citizens under subsistence minimumand and to render support to commence their small businesses. The project will be implemented until 2021 and a total of 84 thousand 900 people are expected to have jobs.

The Ministry of Labor and Social Protection implemented six employment support programs in 2017 with funding of MNT 53.5 billion, involving 48.3 thousand people. According to Law on Employment Support Fund, MNT 20 million loan with low interest is allowed to grant to enterprise and MNT 10 million to citizen.

The main purpose of the project is to back mothers looking after their children aged between 0-3 and graduates who cannot find jobs. Although there are many small enterprises in Mongolia, they cannot earn sufficient income to renew their equipment. Therefore, micro credits will be granted to those people, said James Anderson, World Bank Country Manager for Mongolia.

B.Batchimeg