A signing ceremony was held on February 25 for a concessional loan financing agreement to be provided in 2026 under the “White Gold” national movement initiated by the President of Mongolia.

The ceremony was attended by Minister of Food, Agriculture and Light Industry Badamsuren Myagmarsuren, along with executives of nine banks, including Trade and Development Bank, State Bank, and Golomt Bank.

Speaking at the event, Minister Badamsuren expressed gratitude to the bank leaders and staff for supporting and cooperating in implementing sectoral policies and decisions. He emphasized that the results of national movements and programs demonstrate the importance of state support for the private sector through effective policies and concessional loans. The ministry is working on draft legislation aimed at creating a favorable legal environment to enhance the competitiveness of enterprises, including support measures such as preferential loans, land allocation, and tax incentives.

Under the approved 2026 state budget, MNT 350 billion is planned to be allocated within the framework of the “White Gold” movement. Last year, under the initiative, a total of MNT 509 billion in concessional loans for both working capital and investment financing was provided to 182 wool, cashmere, and leather processing factories and enterprises, including repeat borrowers.

As a result, 70 percent of raw cashmere was prepared by domestic producers, while exports of combed cashmere reached a historic high of 4,000 tonnes, valued at USD 330.6 million. In addition, spinning capacity increased by 400 tons and knitting capacity by 200,000 pieces.

Published Date:2026-02-26