Program approved on stabilizing land farming
Program approved on stabilizing land farming.
Program is approved on stabilizing land farming. Mongolia’s cabinet approved a short-term program on stabilizing the land farming with key objectives to provide consumers with home-grown wheat, potatoes and vegetables, to improve the quality of the products, and to save soil fertility. The government authorized the Board of the Development Bank of Mongolia (DBM) to give two-year term loans to land farming companies and individuals after resolving a financing of 100 billion tugrik or $50 million. The loans are projected to be used for the spring sowing, preparing ploughs, providing the harvesting works with fuels, supplying pesticides, chemicals for soil saving, improving soil fertility and technical repairs. This year, some 1,200 entities and people are expected to receive 386 thousand tons of harvest. Due to droughts last year, farming companies lost much harvest, therefore these companies are in trouble to carry out their business for this year.
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