Government to formalize EUR 70 million loan from IIB

Politics
Amarsaikhan.B
en_amarsaikhan@montsame.mn
2016-12-08 12:58:29

Ulaanbaatar /MONTSAME/ On Wednesday, the Cabinet authorized the Minister of Finance to sign a Loan Agreement of up to EUR 70 million with the International Investment Bank. The loan term is up to seven year and has 3.89 percent interest rate.

The government intends to spend the loan funding for reduction of credit service costs and lengthening average period for loan repayments. 

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