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Mongolian Government announces soft loan incentives to airlines

The Government of Mongolia has announced plans to set up a low-interest soft loan channel with an amount of MNT 145 billion for airlines to stabilize operations of the local air travel industry.

Entities liable for the soft loan include MIAT SOE, Aero Mongolia LLC, Hunnu Air LLC, and Airways LLC. The financing will be covered by the comprehensive plan worth MNT 10 billion to protect people’s health and recover the economy.

To support the travel industry, MIAT SOE is planning 17 additional flights to Frankfurt between June and September, to which MNT 4.7 billion will be granted from the Government’s reserve fund as an incentive.

Mongolia, which closed its border at the beginning of the pandemic, fully opened the border for travelers in February this year. In an address announcing this statement, the Prime Minister L.Oyun-Erdene emphasized, “Mongolia is welcome to all investors and travelers who had full doses of vaccines. Vaccination will also be available for unvaccinated people in Mongolia,” and assured that the country is focusing on easing difficulties for foreign investors and tourists in traveling Mongolia.



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