Parliament ratifies IDA financing program of USD 79 million

2017-06-02 15:30:48
Ulaanbaatar /MONTSAME/ On June 2, the State Great Khural (parliament) adopted the bill on ratification of the General Program of Financing, signed by the Government of Mongolia, the World Bank and International Development Association (IDA).

In the margin of the strategic document on cooperation of Mongolian government and the World Bank for 2013-2017, the Government and IDA inked the above program on February 24, 2017.
Ratification of the program enables Mongolia to receive loan of USD 79 million, granted to Mongolia for 2015-2017.

The money is expected to be dedicated to projects on promoting employment, sustainability of economy, government budget and financial sector, improving energy distribution capacity and increasing the supply of electricity to the western region of Mongolia, as reflected in the strategic document of the Government of Mongolia and the World Bank.
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