Water infrastructure loan
A loan product secured by the proceeds of contracts for the provision of goods and services for water facilities and engineering network infrastructure financed by the Mongolian budget
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Type Water infrastructure loan Loan amount Up to 5.0 billion MNT Interest rate /yearly/ 14.40%-18.00% Annual percentage rate /yearly/ 15.39%-19.56% Loan term 24 months Collateral Must provide collateral according to the bank’s requirements Commission fee 0.50% (Will be deducted once from the approved loan amount) Payment for amending the loan agreement 0.30% (Will be deducted once from the loan balance) Application fee 10,000 MNT Insurance Insurance will depend on the type of collateral - Have a special license to perform the work
- Be selected in the Mongolian state procurement tender and have a valid contract for the supply of goods and services
- Have a Golomt Bank account to receive payment for the contract
- The work and services to be performed under the contract must be in line with the purpose of the loan
- Other
Additional criteria:
- The purpose of the loan must be to protect water resources, use water efficiently, reduce water loss, increase wastewater reuse, etc
- Must meet external source requirements
- The business activity must not be included in the “List of Prohibited and Warning Activities” specified in the Golomt Bank’s ESRA Regulations
- Must meet green criteria (measurement, verification)
- Loan form
- Certificate of state registration of the organization, Articles of Association, and introduction
- Operation license
- Board of directors’ approval of the loan, minutes of the shareholders’ meeting
- Original ID card of the authorized official, or if it is not possible to bring the original, a notarized copy, and a photo of the last 6 months
- Collateral documents
- Audit and tax reports and other income and expense documents
- Documents confirming the purpose of the loan and related agreements
- Other