Ulaanbaatar
General agreement of EUR50 million loan from Poland approved
Politics
Ulaanbaatar /MONTSAME/ Today, June 9, Parliament approved a general agreement on tied aid between the Governments of Mongolia and the Republic of Poland. Based on agreements made during President Ts.Elbegdorj’s visit to Poland in 2013 and intergovernmental meetings, the Polish Government decided to provide an export loan of EUR50 million to Mongolia in compliance with the procedure of tied aid or export loan of the Organisation for Economic Co-operation and Development.
The parties agreed to spend the loan to finance programs and projects in agriculture, infrastructure, education and nature protection.
The 28 year-term loan has an annual interest of 0.15, with exemption from the repayment of principal loan for 5 years. Mongolian side succeeded to improve the loan condition agreed in 2014, prolonging the loan term from 25 years and making 95 per cent financing into 100 per cent.
The parties agreed to spend the loan to finance programs and projects in agriculture, infrastructure, education and nature protection.
The 28 year-term loan has an annual interest of 0.15, with exemption from the repayment of principal loan for 5 years. Mongolian side succeeded to improve the loan condition agreed in 2014, prolonging the loan term from 25 years and making 95 per cent financing into 100 per cent.
B.Ooluun
