Ulaanbaatar
Mongolia and South Korea sign several documents on cooperation
PoliticsUlaanbaatar /MONTSAME/ Paying an official visit to the Republic of Korea, the Mongolian President Ts.Elbegdorj and his South Korean counterpart Park Geun-hye attended Thursday a ceremony of signing cooperation documents, in Seoul.
A memorandum of understanding (MoU) on cooperation with the Korean Foundation for Economic Development Cooperation for 2016-2018 was established between the Mongolian Ministry of Finance and the South Korean Ministry of Strategy and Finance. This document is instrumental for consolidating friendly relations, the financial and technical cooperation, effective exploiting long-term soft loans to be given from South Korea and collaborating in projects indispensable for the Mongolian socio-economic and infrastructure areas.
The MoU determines that priority of bilateral cooperation will be reforms in the public service sector which is based on energy, education, local development, environment and IT technologies.
With the document, the countries agreed to implement several projects with a loan of USD 244.5 million from the government of South Korean Foundation. In accordance with a proposal from the Mongolian side, the projects will be realized on rendering support to the public inter-city and international transportation service, building thermal power stations in ten aimags, empowering the legal sector, smart-education and reconstructing the “Khargia” sewage treatment plant.
Other memorandums of understanding were signed on cooperation in the veterinary and plant quarantine, sports, construction and urban development sectors.
