Elders and disabled receive MNT 330,000
As a part of the arrangement to grant MNT 1 million to every citizen of Mongolia, the first phase is now being initiated with the elderly and disabled people of Ulaanbaatar receiving MNT 330 thousand. 272,582 elderly and disabled people have made the request expressing the wish to receive the national resource shares in cash. In total, MNT 334 billion will be distributed to elderly and disabled citizens. The handout started to be distributed through branches of the Savings Banks on May 23th.
In accordance with the law on the 2012 budget of the Human Development Fund and in compliance with the Parliamentary resolution 53, 1 million MNT will be handed out to the elderly and disabled people in this first phase. The government decided to distribute this cash handout by dividing it into three portions by month; April, May and June. In the 2012 budget of the Human Development Fund it was pre-estimated that 334.2 thousand elderly and disabled people would receive cash handouts.
“The decision to grant cash, divided into three parts, was made on the basis of financial income and potential and if the government was to give MNT 1 million all at once, the inflation rate could be increased. We plan to finish distributing cash handouts to the people within June” said Prime Minister S.Batbold when he visited one of the Savings Bank branches in order to be shown the procedure being used to distribute the cash.
In accordance with the law on the 2012 budget of the Human Development Fund and in compliance with the Parliamentary resolution 53, 1 million MNT will be handed out to the elderly and disabled people in this first phase. The government decided to distribute this cash handout by dividing it into three portions by month; April, May and June. In the 2012 budget of the Human Development Fund it was pre-estimated that 334.2 thousand elderly and disabled people would receive cash handouts.
“The decision to grant cash, divided into three parts, was made on the basis of financial income and potential and if the government was to give MNT 1 million all at once, the inflation rate could be increased. We plan to finish distributing cash handouts to the people within June” said Prime Minister S.Batbold when he visited one of the Savings Bank branches in order to be shown the procedure being used to distribute the cash.
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