Financial agreement on Export Oriented Project ratified

Politics
Amarsaikhan.B
en_amarsaikhan@montsame.mn
2016-11-04 17:15:00

Ulaanbaatar /MONTSAME/ The financial agreement on the Project on Promoting Exports, aiming at strengthening economic competitiveness of non-extractive industries and encouraging the exports, was ratified at today’s plenary session of the State Great Khural (Parliament).

The financial agreement has been signed by the Government of Mongolia, the World Bank and the International Development Association.

The project is funded with the World Bank’s soft loan of USD 20 million with 1.25% annual interest rate.

The bill on ratifying the financial agreement was backed with 75.5 percent approval. 

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