DBM LLC AND MIN­ISTRY OF FOOD AND AGRI­CUL­TURE’S FUND TO PRO­MOTE FARM­ING TO PRO­VIDE FARM­ING MA­CHIN­ERY ON LEASE

The UB Post - - FRONT PAGE -

The De­vel­op­ment Bank of Mongolia (DBM) re­ceived a 3.5-year 10 mil­lion USD loan from the Ex­im­bank of Rus­sia (Rus­sian Ex­port-Im­port Bank) to buy farm­ing equip­ment in or­der to im­ple­ment the Atar 3 cam­paign and Re­newal of Farm­ing Ma­chin­ery project.

The cam­paigns to sup­port the in­ten­si­fi­ca­tion in farm­ing were in­cluded in the 2016 to 2020 ac­tion plan ap­proved by Cabi­net.

The agri­cul­tural equip­ment and ma­chin­ery pur­chased through the dis­counted loan will be pro­vided on lease by the bank’s sub­sidiary DBM Leas­ing LLC and the Min­istry of Food and Agri­cul­ture’s Fund to Pro­mote Farm­ing.

Com­pa­nies that wish to pur­chase the Rus­sian-made equip­ment will send their re­quests to the Fund to Pro­mote Farm­ing, and the se­lec­tion and dis­tri­bu­tion process of the ma­chin­ery is al­ready un­der­way.

A to­tal of 543 farm­ing equip­ment con­sist­ing of 20 mod­els were pur­chased from Rus­sian sup­pli­ers. Cur­rently, 70 farm­ing equip­ment has been de­liv­ered to Mongolia.

DBM Leas­ing LLC has stated it will be pur­chas­ing ma­chin­ery and equip­ment in the en­ergy, min­ing, and agri­cul­tural sec­tors to lease out to pri­vate com­pa­nies. The farm­ing sec­tor is just the be­gin­ning, stressed DBM of­fi­cials.

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