Mortgage Loan Diversification and Accessibility Enhancement Discussed with the European Investment Bank

Minister for Family, Labour and Social Protection L. Enkh-Amgalan held a meeting with Auvo Kaikkonen, the Director of the European Investment Bank’s (EIB) China and Mongolia office. The European Investment Bank, a multi-sector development bank, is known for supporting green development projects and providing funding for various initiatives.

 

During the meeting, Minister Enkh-Amgalan discussed the Government of Mongolia’s efforts to increase the accessibility of housing loans. A key aspect of this initiative is the use of funds from the “Savings Fund” to finance mortgage loans, aiming to expand the availability of affordable housing for Mongolian citizens.

 

Starting in 2025, Mongolia plans to diversify its housing loan options by focusing on energy-efficient, environmentally friendly housing projects. These projects will include homes designed to minimize soil and air pollution. Additionally, preferential loans will be offered for building single-family homes, in line with the government’s objective to promote sustainable housing.

 

Discussions with the European Investment Bank centered on potential collaboration to implement these initiatives. The partnership aims to help create housing solutions that cater to the needs of young people, the elderly, low-income families, and individuals seeking to upgrade their current living spaces.

 

This collaboration is expected to play a pivotal role in enhancing the accessibility and affordability of housing for various demographic groups in Mongolia.