Ulaanbaatar
Draft financing agreement to be consulted with Parliament
Politics
Ulaanbaatar /MONTSAME/ During its regular meeting on June 7, Wednesday, the Cabinet agreed to discuss with corresponding Parliamentary standing committees a draft financing agreement on ‘Development Policy program to support economic administration and Development policy funding-1’ between the Government of Mongolia and the World Bank’s International Development Association.
The program aims to aid the implementation of ‘Economic Recovery Program’, improve budget stability, reduce fiscal deficit, and direct social welfare to target groups.
In frames of the program, Mongolia plans to secure USD 120 million loan from the International Development Association. The loan term is 30 years with 1.25 percent annual interest and a five year moratorium. The program will be implemented for three years through 29 policy measures.
The program aims to aid the implementation of ‘Economic Recovery Program’, improve budget stability, reduce fiscal deficit, and direct social welfare to target groups.
In frames of the program, Mongolia plans to secure USD 120 million loan from the International Development Association. The loan term is 30 years with 1.25 percent annual interest and a five year moratorium. The program will be implemented for three years through 29 policy measures.
Kh.Aminaa
