UNifeed: MONGOLIA / MICROFINANCE

MONGOLIA / MICROFINANCE

In Mongolia, a microfinance system aimed at the poor in particular is helping the far flung rural areas to develop by increasing business opportunities. WORLD BANK

Duration:03:00Date:06 February 2010

Categories:

WORLD BANK, ECONOMIC DEVELOPMENT AND DEVELOPMENT FINANCE, MONGOLIA

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Full Script

STORY: MONGOLIA/ MICROFINANCE
TRT: 3.00
SOURCE: WORLD BANK
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / MONGOLIAN / NATS

DATELINE: NOVEMBER 2009, BAYANKHONGOR, MONGOLIA

SHOTLIST:

1. Close up, cobbling
2. Various shots, Oyunbileg cobbling
3. Med shot, Oyunbileg with customer
4. SOUNDBITE (Mongolian) Oyunbileg, cobbler: 
“When I started my business, I needed money, so getting a loan from the non- bank institution was the best way, I have gotten loans almost ten times, and I use the loans to buy materials to repair the shoes and with the income I can send my daughter to study in Ulaanbaatar and live and I am very happy with this loan, as the interest is very low.”
5. Wide shot, customers walking into cobbler shop
6. Various shots, Oyunbileg with Batsukh
7. SOUNDBITE (Mongolian) Batsukh, Non-Financial Institution:  
“The loans that we give are very important -especially in bayanhangor-because our interest rate is very low and the demand is very high, “
8. Various shots, Oyunbileg fixing a shoe
9. Med shots, Oyunbileg with customer
10. SOUNDBITE (Mongolian) Oyunbileg, Cobbler: 
“I am interested to create more jobs and employ more people and to teach some skills to others so that that they do this as well.”
15. Med shot, man chopping wood
16. Close up, wood chopping
17. Med shot, sheep 
18. Various shots, Tumenjargal with her family outside carrying wood
19. Tracking shot, Tumenjargal and her family entering geer
20. Med shot, Tumenjargal at weaving machine
21. close up, Tumenjargal at weaving machine
22. Zoom out, from face to hands weaving
23. SOUNDBITE (Mongolian) Tumenjargal, weaver: 
“This is the third time that I received a loan from the fund, and I do have a plan to expand my business, because this machine I have is now for thick materials, and I would like a machine to weave more high quality cashmere.”
24. Zoom out, cobbler shop
25. SOUNDBITE (Mongolian) Munkhchimeg ,worker:
“Of course it is important to have job.  I have four children, and am the only bread winner.”
26. Med shot, the two cobbler women working

STORYLINE:

Oyunbileg repairs shoes for a living in her small workshop in southern Mongolia.

The money she earns is enough to support her four children and herself and even send her oldest daughter to university far away in the capital.

SOUNDBITE (Mongolian) Oyunbileg, Cobbler 
“When I started my business, I needed money, so getting a loan from the non- bank institution was the best way, I have gotten loans almost ten times, and I use the loans to buy materials to repair the shoes and with the income I can send my daughter to study in Ulaanbaatar and live and I am very happy with this loan, as the interest is very low.”

The loans are part Mongolia’s Microfinance Development fund to encourage financial growth through small businesses in the country’s rural areas where economic downturn has been most severe.

Local financial institutions are responsible for disbursing the loans in order to build community capacity, says loan officer Batsukh.

SOUNDBITE (Mongolian) Batsukh, Non-Financial Institution: 
“The loans that we give are very important especially, in bayanhangor, because our interest rate is very low and the demand is very high.”

Oyunbileg who says she wears the mask to ward off swine flu and glue odors-has repaid her loans, and asked for more so she can expand.

SOUNDBITE (Mongolian) Oyunbileg, Cobbler: 
“I am interested to create more jobs and employ more people and to teach some skills to others so that that they do this as well.”

More than 32,000 loans have been disbursed by banks and non-bank financial institutions under the microfinance fund, part of Mongolia’s ‘Sustainable Livelihoods Project’ supported by the World Bank and donor partners.

Most of half the loans have gone to households living below the poverty line. Thirty-two-year-old Tumenjargal received a small loan to buy this machine and other equipment necessary to weave. She makes sweaters and hats from the wool of the camels and cashmere goats her husband raises.

SOUNDBITE (Mongolian) Tumenjargal, Weaver: 
“This is the third time that I received a loan from the fund, and I do have a plan to expand my business, because this machine I have is now for thick materials, and I would like a machine to weave more high quality cashmere.”

More than 150,000 Mongolians are benefiting either directly or indirectly from the loans, including Munkhchimeg, a single mother, who works for Oyunbileg in the shoe repair shop.

SOUNDBITE (Mongolian) Munkhchimeg,worker: 
“Of course it is important to have job.  I have four children, and am the only bread winner.”

She was hired by Oyunbileg when business started to grow two years ago, and the two widows have worked together happily, and lucratively, ever since.

Breadcrumb Trail

MONGOLIA / MICROFINANCE

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